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Italy's TI Media and L'Espresso create network operator Persidera
June 30, 2014 / 2:45 PM / 3 years ago

Italy's TI Media and L'Espresso create network operator Persidera

MILAN, June 30 (Reuters) - Italian media company Telecom Italia Media and publisher L‘Espresso have completed the merger of their digital broadcasting assets, creating network operator Persidera, they said in a joint statement on Monday.

Persidera, which will compete with state-owned Raiway and EI Towers, will be 70 percent owned by TI Media, a unit of phone group Telecom Italia, while the remainder will be held by L‘Espresso, according to the statement.

The deal will generate “significant synergies”, they said, without elaborating. Sources close to the deal have said a stake in the new company could eventually be sold. (Reporting by Danilo Masoni; editing by Agnieszka Flak)

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