Clessidra to make another offer for Telecom Italia

The GP is also reported to be considering a joint bid for the firm with Diego Della Valle, the chairman and CEO of luxury fashion brand Tod's.

Reports in the Italian press suggest that Della Valle may buy the group's La7 network, while the GP would purchase the group's industrial assets. 

Clessidra's revised bid follows news that Telecom Italia had entered exclusive talks with media firm Cairo Communication earlier this month. In order for a revised bid to progress, the Telecom Italia board will have to declare the exclusive talks over, an announcement expected on 4 March. 

The private equity firm had initially made an offer of €450m for the entirety of Telecom Italia, comprising €300m of equity and €150m of debt.

The bid made by Cairo Communication was to acquire the group's La7 network only, leaving aside the 51% stake in MTV Italia and the multiplex platform owned by the target company. Telecom Italia postponed the sale earlier this week.

 

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• Southern Europe
• Italy
• Clessidra Capital Partners