Gedi unhappy with F2i offer for Persidera - report
08 MAY 2019
Gedi, the Italian publisher that holds a 30% stake in Persidera, the multiplex TV broadcasting unit of Telecom Italia (TIM) [BIT:TIT], is not happy with the offer from F2i, the infrastructure fund, according to a newswire report. The Reuters report from yesterday cited a person familiar with the deal and said that the EUR 240m - EUR 250m offer from the Italian fund has the potential to be improved.
TIM CEO Luigi Gubitosi had ironed out in early 2018 a plan to revive the Italian telecommunications company, and the sale of the 70% stake it holds in Persidera is a part of the plan, the Reuters report said.
The Telecom Italia board reckons that the offer from F2i for the whole of Persidera is fair, according to the Reuters item.
Approval from Gedi is required for the deal to progress, the Reuters item said.
Telecom Italia's activist investors are Amber Capital and Elliott Management.
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