Meloni moves to take 20% stake in Telecom Italia grid

Decree approved by Italian cabinet will empower it to enter bid with US firm to take control of telecoms’ network

Giorgia Meloni, Italian Prime Minister: “Our vision is the one that the centre-right has always backed: assuming strategic control of the telecom network and protecting jobs.” Picture: Corbis via Getty Images

Italy approved a decree Monday which empowers it to take a stake in Telecom Italia’s network business, part of an effort by Giorgia Meloni, the Italian Prime Minister’s, increasingly activist government to assert more control over strategic assets.

The decree gives cabinet backing to an agreement with US private equity firm KKR & Co to jointly control Telecom Italia’s grid. Under the deal, which has been in the works for months, Italy is entitled to ...