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Italy's Clessidra makes offer for Telecom Italia Media: sources
December 3, 2012 / 7:21 PM / 5 years ago

Italy's Clessidra makes offer for Telecom Italia Media: sources

MILAN (Reuters) - Italian private equity fund Clessidra has made an offer to acquire Italy’s third-largest commercial broadcaster Telecom Italia Media TCM.MI, two sources said on Monday.

“They are in the race,” a financial source told Reuters, asking not to be identified.

Clessidra declined to comment.

A second source with knowledge of the situation confirmed that Clessidra had made an offer.

Telecom Italia (TLIT.MI), which owns 77 percent of the Telecom Italia Media, had set a Monday deadline to submit binding offers.

Telecom Italia was not immediately reachable for comment.

Other potential bidders were Hutchison Whampoa’s 0013.HK Italian telecoms operator, U.S. TV group Discovery Communications (DISCA.O) and advertising firm Cairo Communication (CAI.MI).

Reporting By Danilo Masoni, editing by Lisa Jucca

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