Bidding for Persidera DTT multiplexes starts Nov 20
November 14, 2017
From Branislav Pekic in Rome
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.