TIM’s board set to meet Friday over request to extend network deal deadline-sources

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MILAN — Telecom Italia’s (TIM) directors are expected to meet on Friday over a request from state lender CDP and its partners to extend a deadline to finalize a deal over the Italian phone group’s network, two sources close to the matter said.

CDP, infrastructure fund Macquarie and Open Fiber have asked for more time to clinch a deal to buy TIM’s network assets, pushing back an initial deadline for a binding deal set at the end of this month. The multi-billion bid is part of a long-held plan to combine TIM’s fixed network assets with those of CDP-owned rival Open Fiber to create a single national network operator under CDP’s control. Telecom Italia declined to comment. (Reporting by Elvira Pollina; editing by Valentina Za)