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Ardian and Canson Capital Partners were not immediately available for comment.

General Depôt for Turner's, Whatman's, Canson Frères, La Croix, and other Talbotype Papers.

The deal, which will see Canson Capital Partners investing alongside Ardian, could be announced as early as next week, the sources said.

Blackstone has hired Evercore Inc and Canson Capital Partners to negotiate on its behalf, while Thomson Reuters is represented by Guggenheim Securities, they added.

TIM said it had also agreed to sell an up to 3% direct INWIT stake to a vehicle managed by Canson Capital Partners.

Blackstone has hired Evercore Inc EVR.N and Canson Capital Partners to negotiate on its behalf, while Thomson Reuters is represented by Guggenheim Securities, they added.