A sale of the controlling stake in Telecom Italia could be finalized in the coming months, the deal’s chief negotiator, Marco Tronchetti Provera, said Monday.
A number of banks have expressed interest in the TI holding company, as has media tycoon and former premier Silvio Berlusconi.
Sale of an 80% stake in Telecom Italia’s holding company, Olimpia, could have a long-lasting impact on the future of Italy’s media industry.
For Tronchetti Provera, selling off Olimpia would generate much-needed cash for Pirelli, the Italian tires-to-telcoms conglomerate where he serves as chairman. Pirelli holds the 80% stake in Olimpia put up for sale.
Aside from its dominant control of Italy’s telecoms market, Telecom Italia also operates terrestrial TV web La 7 and MTV Italia.