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TI Media confirms plans to approve deal with Cairo on March 4
MILAN, March 1 |
MILAN, March 1 (Reuters) - Telecom Italia Media has confirmed plans to give final approval to the sale of its flagship La7 channel to Cairo Communication at a board meeting due Monday.
News that a new rival bid had emerged fuelled speculation that talks with Cairo could fall apart.
In a statement on Friday, Telecom Italia Media said it "confirms the path already defined" in a Feb. 27 press release when it said it had delayed the approval of deal with Cairo because some details still needed to be worked out. (Reporting By Danilo Masoni)
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