Telecom Italia-owned network channel La7 is likely to be bought by Italian investment fund Clessidra Capital Partners. Italian newspaper La Repubblica is reporting that Telecom Italia’s board made the decision at its latest meeting, and declined the bid from media conglomerate Cairo Communications.

It is not yet known what price has been achieved for La7, although previous unconfirmed reports talked about bids of around €300 million for La7 and the MTV Italia frequencies, and possibly including the multiplexes carrying the channels.

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