Telecom Italia Media: Meeting of the Board of Directors

02/18/2013 - 11:10 PM

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The Board of Directors of Telecom Italia Media S.p.A., which met today under the chairmanship of Severino Salvemini, acknowledged the resolutions passed by Telecom Italia, and after a careful analysis decided to grant Cairo Communication S.p.A. an exclusive to negotiate the sale of the whole stake in La7 S.r.l. held by the Company, excluding the stake in MTV Italia S.r.l. (51%).

The Board of Directors shall be reconvened at the end of the negotiation process for the final approval of the transaction.

The Board of Directors has also resolved to entrust the Chairman with the task of calling the Ordinary Shareholders' Meeting (single call) to be held on 5 April 2013, in Rozzano (Milan), in order to approve the Financial Statements at 31 December 2012 and the Remuneration Report, take decisions following the resignations of four members of the Board of Directors in 2012, appoint the Board of Statutory Auditors whose term of office is expiring and update the auditing fees for the years 2012-2018.

The notice of calling will be published in the manner and within the terms prescribed by applicable law.

Milan, 18 February 2013