Telecom Italia SpA has extended the deadline for offers for its loss-making TV unit, seeking the best offers in a sale designed to cut its debts and which could re-shape Italy's media landscape.Bids for Telecom Italia Media SpA, which owns Italy's La7 and MTV channels, had been due on Monday but were extended by a day, a person familiar with the matter said."They agreed on having some extra hours," the person said.Telecom Italia Media has a market value of 242 million euros, making Telecom Italia's 77 percent stake worth 187 million. Telecom Italia values the stake on its books at 176 million euros.
Shares of TI remained unchanged at $9.05. In the past year, the shares have traded as low as $7.31 and as high as $12.38. On average, 250432 shares of TI exchange hands on a given day and today's volume is recorded at 522.
Shares of TI-A remained unchanged at $7.87. In the past year, the shares have traded as low as $6.10 and as high as $11.90. On average, 187587 shares of TI-A exchange hands on a given day and today's volume is recorded at 156000.
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