Telecom Italia Media's share on the Stock Exchange took off, gaining 11 percentage points at the opening today, only to then retrace slightly in the following minutes (+9%, to 1,091 euros). The shower of purchases is linked to some press rumors: yesterday the Radiocor agency wrote that the parent company Telecom Italia could choose the path of delisted for TI Media with a a float offer, equal to 22% of the capital.
In a press release released late yesterday evening, the group led by Marco Patuano announced that "the possible options with reference to the subsidiary will be examined in the context of the group's industrial planning" and that "every decision will be taken in agreement with the management and the corporate bodies of Ti Media, in a transparent manner and in full compliance with market rules, as well as the interests of all shareholders. It remains that, at present, no determination has been made".
In any case, Piazza Affari is now strongly betting on the delisting. The objective of the operation would be to complete the delisting within the first quarter, or at the latest, given the existence of some disputes, within the first half of the year.
Still with regard to Telecom Italia, today Repubblica writes that a Chinese fund probed subsidiary Sparkle's submarine super cable group. Less than an hour after the opening, Telecom Italia shares gained 0,9%, to 0,948 euros.
