JPMorgan to back KKR's 45 billion euro financing in TIM deal -paper

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MILAN (Reuters) - U.S. fund KKR's proposal to buy Telecom Italia (TIM) includes a letter of commitment by JPMorgan to support the 45 billion euros ($51 billion) financing needed for the deal, Italian daily Il Messaggero reported.
JPMorgan said in the letter it was ready to lift its commitment above 45 billion euros if necessary, the newspaper added.
JPMorgan and KKR both declined to comment.
Two sources familiar with the matter confirmed JPMorgan's role in arranging the financing for the bid. Sources had previously said JPMorgan was advising KKR together with Citi and Morgan Stanley.
In the non-binding proposal submitted to TIM's board, KKR has set an indicative price of 0.505 euros a share, valuing Italy's biggest phone group at 10.78 billion euros or 33 billion euros including TIM's ...


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