February 8, 2013 / 6:30 AM / 5 years ago

Telecom Italia Media sale process postponed

MILAN, Feb 8 (Reuters) - Italian broadcaster Telecom Italia Media said on Friday its board had decided to postpone the discussion of its sale process, without indicating a date.

Telecom Italia has put up for sale the loss-making television company, of which it owns 77.7 percent, to help cut debt and focus on its core telecoms business.

“The board resolved to postpone the topic of the sale process to a subsequent meeting to be called alongside a meeting of Telecom Italia’s board,” Telecom Italia Media said in a statement.

Italian newspaper La Repubblica said on Friday the discussion of the sale was likely to be postponed to Tuesday or Wednesday.

Telecom Italia held a board meeting on Thursday to discuss its 2012 results and strategy. (Reporting By Danilo Masoni, editing by Stephen Jewkes)

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