Telecom Italia (TIM) has given the green light to the €19 billion sale of its fixed-line network to US private equity firm KKR.

The move is particularly notable as TIM becomes the first major telecoms group in a European country to part ways with its landline grid.

Italy views this asset as nationally strategic. The country has been working diligently to bridge its digital divide with the rest of the European Union, making the sale a crucial step in its digital...