MILAN (Reuters) - The board of Telecom Italia (TIM) reckons that a bid submitted by Italian infrastructure fund F2i for its broadcasting unit Persidera is fair, a source close to the matter said on Monday.
The binding offer is worth between 240 million and 250 million euros ($279 million), sources have said.
The sale of Persidera, 70 percent owned by the Italian phone group, is part of a plan ironed out earlier this year by Telecom Italia’s (TIM) CEO Luigi Gubitosi aimed at reviving the group.
Italian publisher Gedi owns the remaining 30 percent of Persidera, so its approval is needed for the deal to go ahead.
TIM’s board met on Monday to discuss the sale of Persidera among other issues. The sale is one of the company’s goals for this year, TIM said in a statement.
Reporting by Elvira Pollina, editing by Silvia Aloisi