Telecom Italia Media and Cairo Communication inform that they completed today the procedure for the review of La7’s financial statements as at the date of completion of the transfer of the latter to the Cairo Communication Group

10/25/2013 - 08:28 PM

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  • Telecom Italia Media and Cairo Communication inform that they completed today the procedure for the review of La7’s financial statements as at the date of completion of the transfer of the latter to the Cairo Communication Group
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Telecom Italia Media and Cairo Communication inform that they completed today the procedure for the review of La7’s financial statements as at the date of completion of the transfer of the latter to the Cairo Communication Group.

As a result of such review, as the net equity recorded at such date was higher than the value provided in the agreement, Telecom Italia Media and Cairo Communication agreed that the Cairo Communication Group will pay to Telecom Italia Media a price adjustment of Euro 4.8 million.

 

Rome, 25 October 2013