The newspaper said the deal would raise some antitrust issues, but that they could be addressed through the sale of assets.

It said Italian infrastructure fund F2i, which controls 2i Rete Gas with a 64% stake, had declined to comment on the reported offer. The fund reiterated that the gas distributor was working on listing its shares on the Milan bourse, Corriere added.

Italgas also declined to comment.

Reuters reported last month that 2i Rete Gas was working on selling around 600 million euros of shares, valuing the whole company at about 5 billion euros, in what would be one of the largest initial public offerings (IPO) in Italy of the last 12 months.

Dutch pension fund APG and buyout group Ardian together hold the remaining 36.1% in 2i Rete Gas.

($1 = 0.9216 euros)

(Reporting by Alvise Armellini, editing by Gavin Jones)