Telecom Italia’s sale of its media business, TI Media, is facing a delay.
Telecom Italia Media announced in a short statement that its board of directors has decided to postpone a debate of the topic, scheduled for yesterday, and discuss it at a later…
Telecom Italia’s sale of its media business, TI Media, is facing a delay.
Telecom Italia Media announced in a short statement that its board of directors has decided to postpone a debate of the topic, scheduled for yesterday, and discuss it at a later stage.
The company did not specify when a discussion might take place, and only said its board has decided to postpone the topic “to a subsequent meeting to be called consistently with the meeting of Telecom Italia’s board of directors”.
The decision was made following an update on the sale process at a TI Media board meeting yesterday.
Telekom Italia launched a sale process of its 77.7% stake in TI Media last year in an attempt to cut its debt.
Recent reports suggested that Telecom Italia has received a number of binding bids for the listed media business, which has a market cap of €227.6m.
