Three bids for Telecom Italia Media
September 25, 2012
From Branislav Pekic in Rome
Three non-binding offers, from the Clessidra Fund, mobile operator 3 Italia and Discovery Channel, have been submitted for the TV assets of Telecom Italia Media (La7 and MTV Italia) and the company’s three DTT multiplexes.
According to Italian press reports, Italy’s Clessidra Fund was the only bidder for the entire package (broadcasters + multiplexes), offering €450 million. 3 Italia allegedly submitted only a bid for the digital multiplexes, while Discovery Channel is interested in the TV channels.
It seems that the potential bidders are trying to shave down the purchase price, judging as “overly optimistic” the estimates in the business plan 2012-2015, particularly in terms of advertising outlook.
For the moment, the position of Cairo Communications, RTL and Abertis Infrastructures remains uncertain, although other non-binding bids could be submitted in the next days. On September 27th, the Board of Directors of Telecom Italia will discuss the bids, after which it will publish the names of the participants admitted to the second stage.