The offer from the Clessidra private equity fund for all of TI Media (TV plus multiplex) expires today and so far nothing has moved, because Telecom Italia hasn't shown up. Cairo Comunication, which already has a large advertising contract with Telecom Italia Media, therefore seems to be in pole position even if it has not yet presented a binding offer and even if it is only interested in the group's TVs (La7 and MTV). However, the games are still open and Clessidra does not consider himself out and awaits Franco Bernabè's next moves.
The fund led by Claudio Sposito, now free from binding commitments, does not intend to file the dossier but on two conditions: that the sale concerns not only the two TVs of the group but also the multiplexes of Telecom Italia Media and that the price (300-330 million euros) is sustainable.
Now the decision on the future of TI Media is entirely in the hands of Telecom Italia, whose board will pronounce itself on February 7th. What is certain is that Telecom wants to sell both to stop the hemorrhage of La7 losses and to reduce its debts, as Telco is also asking. But not at all costs. The next few days will be decisive.
