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Report: Telecom Italia initiates Persidera stake sale

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Report: Telecom Italia initiates Persidera stake sale

Telecom Italia SpA began the process to sell its majority stake in broadcasting services provider Persidera in a deal anticipated to be valued between €350 million to €400 million, Reuters reported Oct. 4, citing a source.

Barclays, Credit Suisse and Lazard have been selected as advisers for the sale.

The European Commission in May green lit Vivendi SA's plan to gain control of Telecom Italia after an agreement that the Italian operator will divest its stake in Persidera.