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UPDATE 5-KKR steps in with bid for Telecom Italia's grid

Telecom Italia (TIM) has received a non-binding bid for a controlling stake in its fixed-line network from U.S. fund KKR, and Italy's biggest phone group said its board would meet again later this month to assess the proposal.

FACTBOX- Who wants what in a reshaped Telecom Italia?

Telecom Italia has received a multi-billion euro bid for a controlling stake in its fixed-line network from U.S. fund KKR, Italy's biggest phone group said, adding its board would meet on Thursday to discuss the matter.

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