Telecom Italia has confirmed that non-binding bids for its TI Media unit are due 24 September.
An IM has been distributed to “a series of potential buyers,” the Italian incumbent said in a statement.
The company statement was issued following…
Telecom Italia has confirmed that non-binding bids for its TI Media unit are due 24 September.
An IM has been distributed to “a series of potential buyers,” the Italian incumbent said in a statement.
The company statement was issued following earlier media reports that around 10 players including Mediaset, the company of former prime minister Silvio Berulsconi, and Rupert Murdoch’s News Corp are among the parties interested in the assets.
Telecom Italia had decided earlier in the year to sell TI Media in an attempt to reduce its debt.
Management has said previously it expects to receive binding offers in the fourth quarter and finalise the deal by year-end.
Today, TI said that “only once the bids received have been examined will the subsequent steps and time windows be decided.”
Telecom Italia is advised by Mediobanca and Citi. TI Media has a market cap of €320m.
