Telecom Italia Media sells stake in CIPI to Promoinvestments

01/29/2004 - 00:00 PM

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value of the operation: 6.5 million euros
4.9 million euros in capital gains for Telecom Italia Media SpA


Telecom Italia Media announces that as part of the rationalization of its portfolio of activities, its 60% stake in CIPI SpA was sold today to Promoinvestments Srl, a company owned by the Circo family, already minority shareholder of CIPI SpA. The value of the transaction amounts to 6.5 million euros with a capital gain of 4.9 million euros for Telecom Italia Media SpA.