At the end of a seven-hour meeting, the Telecom Italia board mandated the managers to verify the conditions for a possible participation by Cassa Depositi e Prestiti in the capital of a company to be set up for the management of the access network.
On the Telecom Italia media front, negotiations on the offers are under way. The board of directors, chaired by Franco Bernabè, examined the two proposals received and gave a mandate to the management "to negotiate improved conditions in order to present definitive binding offers to the board". On the other hand, the details that have emerged in recent days had already made it clear that the offers would not have been very interesting: Cairo's offer would concern only the TV channels and only that of Clessidra together with Equinox would be for the entire group (for about 300 million).
The door was closed instead for the tycoon Naguib Sawiris who had put three billion euros on the plate to enter the capital, however offering a price per share lower than market quotations. The board of directors, we read, decided, "following the checks carried out by the management, not to proceed further".
The meeting also approved some points relating to corporate governance, in particular the Code of Ethics and the Code of self-discipline. Today, Telecom sold 1,6% on the Borsa, pending the outcome of the board of directors' meeting, communicated after closed markets. Telecom Italia Media lost 2,57%
