Telecom Italia Media flies on the Stock Exchange, which gains around 7% just under an hour after the opening of Piazza Affari. The spectacular rise is related to rumors of a possible entry into the capital of Cairo Communication, a company listed on the Stock Exchange (+1,43%), owned by Urbano Cairo and former advertising concessionaire for La7, the main asset of TiMedia together with MTV.
According to the rumors that came out yesterday late in the evening, the project under study includes the dilution of Telecom Italia's stake in TiMedia from the current 77,7% to around 40%, while Cairo would enter with 15% and the remainder would be placed on the market. None of those involved have yet to comment.
