Murdoch on mission
Exec woos Italo officials in bid for Telepiu
|
The $1.4 billion cash and debt deal, announced June 8, would absorb Telepiu into Murdoch's Italo operator Stream, cut the Gallic media giant's huge debt and cement Murdoch's presence in Italy.
But the News Corp. topper, who arrived in Rome on Monday, faces a tough battle to get the deal finalized. He has yet to find a partner for the venture and faces antitrust problems.
Rumors about meeting
On Tuesday, Murdoch's one-hour meeting with Giuseppe Tesauro, head of Italy's antitrust body, ended without comment. But rumors are circulating that the watchdogs will pass the dossier to powerful Europe Union competition commissioner Mario Monti in Brussels.
Murdoch also held talks with Enzo Cheli, head of the Communications Authority, a body that has only consultative powers but is considered politically sensitive.
However, the tycoon does not plan to meet Marco Trochetti Provera, CEO of Telecom Italia, the mighty telco group that owns half of Stream.
Murdoch is trying to convince Telecom Italia to buy a larger stake in the new merged entity.
But besides antitrust problems -- Telecom Italia can buy a maximum of 19% -- the management has repeated in the past its determination to quit the costly pay TV misadventure and recently said the group was just "waiting and seeing."
