Bids for Telecom Italia fall short

A total of four bids for Telecom Italia Media’s TV assets have been submitted by deadline, but none of them have been judged as satisfactory.

According to local media reports, the bids from Discovery and H3G have been defined as “not interesting”, while the remaining two, from the Clessidra fund and Cairo Communication, are “too low and with too many conditions”. The value of these bids ranges between 250 million and 300 million. Other press reports add that the deadline has been pushed back for another day.

Over the previous months, the Chairman of the Board and CEO of Telecom Italia, Franco Bernabè, has made no secret of the fact that if the bids were not considered as satisfactory, there is no intention of selling the business at any cost.

Meanwhile, French-Tunisian businessman, Tarak Ben Ammar, whose Prima TV holding manages the Dfree DTT multiplex in Italy, has called a press conference on December 5. He is expected to to present future investments in the Italian media sector and possible news on an international partner.

Posted by on Dec 4 2012. Filed under Articles, Broadcast, Business, M&A.

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