(ANSA) - Milan, February 19 - The Board of Directors of
Telecom Italia said Thursday it had approved a merger with
Telecom Italia Media (TI Media), its subsidiary commercial
television network. The deal involves an exchange of ordinary
shares at a rate of 0.66 Telecom shares for each TI Media share.
Telecom Italia already owned about 77% of TI Media. Trading in
TI Media had been temporarily halted during Thursday's meetings.
Telecom approves merger with TI Media
Deal involves television network subsidiary