Hot day for Telecom Italia. Today, in fact, according to what we read in the Corriere della Sera, the number one of Mediobanca, Alberto Nagel, together with Giuseppe Recchi, Marco Patuano and Tarak Ben Ammar, respectively president, CEO and director of Telecom, will meet with Vincent Bollore', main shareholder of Vivendi, in Sardinia, Costa Smeralda.
Today's meeting should focus on one of the most delicate issues of the offer for Gvt, namely the governance of the new company that would be formed with the integration with Tim Brasil. However, times are tight, in view of the Telecom BoD convened for Wednesday afternoon.
Meanwhile, according to what we read in Il Messaggero, the plan developed by Patuano envisages that two-thirds of Gvt be paid in Telecom and Tim Brasil shares, deriving from two capital increases dedicated to Vivendi, and one-third in cash. Based on a valuation of Gvt of 7,2 billion, Vivendi would receive Telecom and Tim Brasil shares in exchange for 4,8 billion, while the balance of 2,4 billion would be paid by the Brazilian subsidiary in cash.
