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Shares in TI Media rise 5 pct after broadcasting deal
April 10, 2014 / 7:16 AM / 4 years ago

Shares in TI Media rise 5 pct after broadcasting deal

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

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