New rally on the Stock Exchange for Telecom Italia Media shares, which in mid-morning gained more than six points, to 0,197 euros, after having reached a maximum of 0,215 euros. Driving the title are the non-binding offers presented for the purchase of the assets held by the group: La7, Mtv and frequencies. The deadline to enter the race expired yesterday.
In addition to Hourglass background controlled by Claudio Sposito, entered the game at timeout putting 450 million on the table (300 in cash and 150 to partially cover the 200 million debt), they should have also presented an offer H3G and the Americans of Discovery Channel. It remains to be seen whether there are also the Cairo communications, which boasts the advertising concession contract with the television broadcaster, and the Germans of RTL, the largest European broadcaster.
After the renunciation by Mediaset and Sky, Corriere della Sera had recently reported that the valuation of 200 million euro made by the advisors (Mediobanca and Citigroup) did not find agreement among the companies involved in the operation. In the Ernst & Young appraisal, the value would be much lower - 81,3 million euros - taking into account only the newco La7 srl, 100% controlled by TI Media and including La7 and 51% of MTV.
It is probable that Thursday, when a Board of shareholder Telecom, you will be able to find out more about the companies admitted to the next phase of the sale procedure.
