Advanced Television

Four likely bidders for Persidera

December 14, 2017

From Branislav Pekic in Rome

Italian broadcasters and private equity funds are the frontrunners to take over Telecom Italia’s DTT multiplex operator Persidera.

According to news agency Radiocor Plus, the companies that are in the due diligence stage will have to present their binding offers by January 15th. It claims that the four likely bidders are the F2i and Clessidra funds as well as Rai’s transmission unit RaiWay and another Italian financial investor. It is likely that RaiWay will team with another company, given the European Commission’s recommendation that one single operator is not allowed to own more than five digital multiplexes.

Italian newspaper Milano Finanza, mentions the possibility of alliances in the bidding for Persidera: one would be formed by F2i and Rai Way, while the second would see Clessidra partnering with Mediaset’s transmission arm Ei Towers.

Additionally, financial daily Il Sole 24 Ore claims that the list of bidders, besides RaiWay, Ei Towers, F2i, allegedly also includes broadcaster Discovery Italia.

Persidera, which is a joint venture between Telecom Italia (70 per cent) and Gruppo Gedi (30 per cent), owns five DTT multiplexes and last year achieved revenues of €80 million. The muxes distribute channels produced by Sky Italia, Discovery Italia, Viacom and De Agostini group.

Telecom Italia has to sell Persidera to respect the commitments its main shareholder Vivendi has made to the European Commission. The telecom operator has said earlier that it estimates that the company has a market value of around €350 million.

Categories: Articles, Broadcast, Business, M&A