Clessidra eyes Telecom Italia Media
Private equity firm Clessidra and several media companies are circling Italian television network Telecom Italia Media, according to reports in the local press.
The firm operates television channels including MTV Italia and a multiplex platform. Telecom Italia Media is listed on the Italian Stock Exchange – its share price has soared since interest was initially reported.
The company is believed to have a market value of about €240m and net debt of €200m.
The deadline to present non-binding offers is 24 September. An offer from Mediaset, owned by former Italian prime minister Silvio Berlusconi, is likely to spark debate surrounding the diversity of ownership in the Italian media ahead of upcoming elections.
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