Telecom Italia begins sale of Persidera holding; Lazard, Credit Suisse, Barclays advising
Telecom Italia [TLIT.MI], based in Milan, today started the sale of its majority holding in Persidera, the Italian broadcast group, according to a newswire report this morning.
Persidera has a EUR 350m to 400m value, Reuters reported, citing a source close to the matter, who said pre-marketing is occurring today and Thursday.
Advisors Lazard, Credit Suisse and Barclays have been selected for the sale, Reuters reported, confirming information that Bloomberg had reported.
Representatives from these companies were not abailable to comment immediately, Reuters reported.
Vivendi [VIV.PA] secured antitrust approval from the European Union to take control of Telecom Italia when it vowed to divest Persidera, the article noted.