MILAN (Reuters) - Italian publisher GEDI GEDI.MI said on Monday it had received a binding bid for its 30 percent stake in broadcasting company Persidera but judged it insufficient.
“The offer was not considered to be in line with expectations and was thus rejected,” GEDI said in a statement.
It said contacts were under way with other investors.
Last month Telecom Italia TLIT.MI, which owns the remaining 70 percent of Persidera, voted in favor of the only official offer for its stake, from fund F2i and tower group Rai Way RWAY.MI, but left the door open to other binding bids.
Telecom Italia, whose largest shareholder is France's Vivendi VIV.PA, has transferred its stake into a blind trust to respect a timeline agreed with EU authorities.
Reporting by Stephen Jewkes; editing by Francesca Landini
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