MILAN (Reuters) - Telecom Italia Media TCM.MI said on Monday it had signed a non-binding term sheet with publisher L'Espresso ESPI.MI to pave the way for a tie-up of their digital broadcasting activities.
In a statement, Telecom Italia Media said its board had decided to continue talks to reach a final agreement.
The operation would generate industrial synergies and create a company with five national bandwidth assets controlled by Telecom Italia Media, it said.
Telecom Italia Media is controlled by Telecom Italia (TLIT.MI).
Reporting by Danilo Masoni, editing by Stephen Jewkes