Investment firm Proto Organization has offered €150m for the company’s two television stations according to a report in the FT, which said Discovery Communications, 3 Italia and Cairo Communication were also previously interested.
It said parent company Telecom Italia is aiming to sell its 78 per cent stake in Telecom Italia Media, which owns two small TV channels and broadcast frequencies.
The purchase would be at the lower end of Clessidra’s target investments, which usually have a total transaction value of between €200m and €1.5bn.
Clessidra is currently investing from its €1.4bn second vehicle raised in 2009.
In July the firm’s deal for Italian drugmaker Rottapharm Madaus hit the buffers over share governance issues and difficulties raising financing.
The bid by Clessidra and Avista Capital for 50 per cent of the company valued it at €1.7bn, with current owners the Rovasti family expected to retain the remaining 50 per cent.
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