The bidding for Italian DTT multiplex operator Persidera will start on November 20th, when the first non-binding bids should be submitted, according to local reports.
In recent days, parties that expressed interest have received a functional information memorandum on the submission of bids. A due diligence will follow in December with the bidders selected by the sellers along with advisors Barclays and Lazard.
Persidera is a joint venture between Telecom Italia/Tim, which owns 70 per cent, and Gedi/L’Espresso. It operates 5 DTT multiplexes (3 formerly belonging to Tim and 2 prevously operated by L’Espresso) with population coverage of between 94 and 96 per cent.
The multiplexes host free-to-air channels from Sky Italia (Cielo, TV8, SkyTG24), Discovery Italia (including Real Time, Deejay TV and DMax), Viacom (Paramount, Spike), De Agostini as well as Vatican’s CTV.
The company generated €80.8 million in revenues in 2016 and achieved a gross operating profit of €42 million.
The sale of Telecom Italia/Tim’s controlling stake is one of the conditions set down by the EU to give the go-ahead for Vivendi’s factual control over the Italian telecommunications operator.