Telecom Italia BoD may put brakes on Persidera sale today
The board of directors of Telecom Italia (TIM) [BIT:TIT] could put the brakes on the sale of its 70% stake in the multiplex TV broadcasting unit, Persidera, when it meets on Thursday (17 January), Italian-language daily Milano Finanza reported.
The unsourced report said that the board could either put a temporary stop or slow down the sale process.
Until November last year, Persdiera looked most likely to be sold to private equity firm I Squared Capital, which had offered EUR 240m for the asset.
However, with 30% owner GEDI [BIT:GEDI] backing the EUR 220m offer made by RAI Way [BIT:RWAY] for the infrastructure part of Persidera, the sale was put on a hold, the report noted.
GEDI has the first rights to acquire TIM's stake in Persidera, the report further stated.
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