MILAN Feb 28 Italian private equity fund
Clessidra to present a new offer for Telecom Italia Media
on Thursday even as it continues preliminary talks with
entrepreneur Diego Della Valle for a joint bid, a source close
to the matter said.
Clessidra had been one of the front-runners in a race to win
control of the whole of TI Media, the media division of Italian
telecoms incumbent Telecom Italia.
The group however started exclusive talks with rival bidder
media company Cairo Communication.
Telecom Italia Media on Wednesday postponed the approval of
the sale of its flagship La7 network to Cairo to March 4, saying
some details still needed to be worked out.
Clessidra has also been exploring the possibility of a joint
bid for the group with Della Valle, the chairman and CEO of
luxury maker Tod's.
Della Valle emerged as a surprise bidder for La7 on Feb. 16
after a deadline for offers had expired.
(Reporting by Massimo Gaia, writing by Antonella Ciancio)