MILAN, April 10 (Reuters) - Shares in Telecom Italia Media rose more than 5 percent at the market open in Milan on Thursday, after the company said on Wednesday it had signed a deal with L‘Espresso to merge their respective digital broadcasting activities.
Telecom Italia Media was quoted 5.4 percent higher at 0810 GMT at 0.88 euros, against a 0.4 percent rise in Italy’s all-share index. L‘Espresso was down 1 percent.
The tie-up deal will create a company with annual revenue of 100 million euros, the companies said on Wednesday.
$1 = 0.7234 Euros Reporting by Isla Binnie, editing by Danilo Masoni