Telekom Italia has extended the deadline for bids for its TV subsidiary, TI Media Group, while seeking to bring the sale process to an end.
TI said in a short statement that its board of directors “gave management mandate to wrap up negotiations in…
Telekom Italia has extended the deadline for bids for its TV subsidiary, TI Media Group, while seeking to bring the sale process to an end.
TI said in a short statement that its board of directors “gave management mandate to wrap up negotiations in order to receive final and binding offers.”
It has been reported that the extension was for about three weeks, and that talks are continuing with Cairo Communications and with PE fund Clessidra.
Reuters had reported that the sale process was at risk after both prospective buyers have refused to increase their offers submitted in December.
TI owns 78% of the TV unit, with the remainder being freefloat.
