February 22, 2018 / 7:22 PM / a year ago

Italy's F2i, Rai Way raise bid for Telecom Italia's Persidera unit - sources

MILAN, Feb 22 (Reuters) - Infrastructure fund F2i and tower company Rai Way have increased a joint offer of around 250 million euros they made for Telecom Italia’s majority-owned broadcasting unit Persidera, two sources said on Thursday.

They did not say by how much the offer had been raised but one of the sources said it still fell short of Telecom Italia’s (TIM) valuation of the unit of around 350 million euros.

TIM’s board is due to meet on Friday to discuss the offer, the only bid received, a source said on Wednesday.

Earlier on Thursday Bloomberg News cited sources to say F2i and Rai Way had “significantly” increased their joint bid for Persidera.

It was not possible to get an immediate comment from the companies. (Reporting by Stephen Jewkes and Agnieszka Flak, additional reporting by Giancarlo Navach, editing by Valentina Za)

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