ROME (AP) — Italian communications company TIM said Sunday that its board of directors has approved the binding acquisition offer by the KKR investment company, following months of negotiations. In a statement, TIM said the approval took the form of a majority vote. The offer assumes that the closing will occur by summer 2024. The deal faces scrutiny by European Union anti-trust authorities. The board rejected a non-binding offer for Sparkle, TIM’s undersea cable unit. Italian state TV said the government, under the deal with KKR, would be a significant shareholder. Corriere della Sera said the finance ministry would hold about a 20% stake. The operation will permit TIM to reduce nearly
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