Telecom Italia to Enter Into Talks Over $768 Million Offer for Subsea Cable Unit
Provided by
Dow Jones
By Christian Moess Laursen
Telecom Italia's board has given the company a mandate to negotiate with the Italian government and Retelit after the pair submitted a 700 million euro ($768.4 million) nonbinding offer to buy its submarine cable business, Sparkle.
The Italian telecom company said late Friday that the aim of the negotiations is to discuss the financial aspects of the deal and to secure a final binding offer by Nov. 30 under the best possible terms.
The nonbinding offer is valid until Oct. 15.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
October 07, 2024 01:42 ET (05:42 GMT)
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