MILAN Jan 31 Italian private equity fund
Clessidra has decided to present an improved offer for Telecom
Italia Media before its controlling shareholder Telecom
Italia meets on Feb. 7 to examine the sale of the
television company, a source close to the matter said on
Earlier in January, Telecom Italia extended talks with
bidders - Clessidra and media company Cairo Communication
- after it dismissed initial offers for its TV unit as
"Clessidra will present a better and binding offer by Feb.
7," the source close to the situation told Reuters.
Shares in Telecom Italia Media accelerated gains after news
of the improved offer. By 1527 GMT they were up 5.9 percent at
0.163 euros, their highest in nine days.
(Reporting By Claudia Cristoferi, writing by Danilo Masoni;
editing by Antonella Ciancio)