May 7, 2019 / 2:40 PM / 15 days ago

Italy's GEDI not happy with F2i bid for Persidera: source

MILAN (Reuters) - Italian publisher GEDI is not satisfied with a binding bid submitted by Italian infrastructure fund F2i for its 30 percent-owned broadcasting unit Persidera, a source close to the matter said on Tuesday.

The source said GEDI believed F2i’s bid, worth 240-250 million euros for the whole of Persidera, could be improved.

The sale of Persidera, 70 percent owned by Telecom Italia (TIM), is part of a plan ironed out earlier this year by TIM’s CEO Luigi Gubitosi aimed at reviving the group.

A source said on Monday the board of Telecom Italia believed the offer was fair.

GEDI’s approval is needed for the deal to go ahead.

Reporting by Elvira Pollina

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