(Bloomberg) -- U.S. private equity firm KKR & Co. is nearing a bid for Telecom Italia SpA, Il Corriere della Sera reported.

KKR has submitted a manifestation of interest, which Telecom Italia’s board is set to review Sunday, according to the newspaper, which didn’t say where it got the information.

The New York-based buyout firm would be ready to launch a takeover bid on the whole group, the Italian daily said.

KKR Is Said to Weigh Takeover of Telecom Italia Network Unit

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