The timing of the total or partial sale of Telecom Italia Media is extended by a couple of weeks. This morning the seller informed potential buyers that instead of November 19th the deadline for submitting binding offers will be December 3rd.
For the acquisition of Telecom Italia Media, H3G, Discovery Channel and the Clessidra private equity fund are still in the race and will certainly present binding offers, while Cairo Communications, which has an ongoing dispute with the seller for advertising sales, remains in the buy stand.
For now, H3G and Clessidra have made offers for the bulk purchase of TI Media (the two TV stations La7 and MTV and the multiplexes) while Discovery Channel is only interested in the TV stations.
As the president of Telecom Italia, Franco Bernabè specified to financial analysts this morning, the proceeds of the sale will serve to further reduce the financial debt which, as of 30 September 2012, had dropped below the fateful threshold of 30 million euros.
To win, TI Media will count the amount of the financial offer but also the industrial project of the buyer.
