An IPO pay-TV operation Sky Italia is back on the agenda with the company potentially realising a value of €3.3 billion. Italian daily Il Sole 24 Ore said in an unattributed report that the flotation of the News Corp company, shelved last year, was now back on track.
Goldman Sachs is the most likely advisor with local company Mediobanca also likely to have a role. Sky Italia is likely to be attractive to investors because there is little opportunity to particpate in Italy’s other media companies.
Ironically the next IPO due to tale place is that of publisher Il Sole 24 Ore, currently owned by the employers’ association Confindustria, expected to take place at the end of the year.