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NOT GIVING UP?: Just when it seemed Tod’s chief Diego Della Valle’s proposed investment in Italian TV channel La7 was off the table, published reports here suggest the fashion entrepreneur is not yet out of the picture.
On March 1, reports indicated that Cairo’s exclusive offer for La7 was expiring and Clessidra SGR SpA, a management group specialized in finance, was stepping up to the plate with a competing offer from its president and ceo Claudio Sposito, said to be joining forces with Della Valle. Years ago Clessidra had been considering a stake in Roberto Cavalli’s firm.
One of Italy’s most public and dynamic investors — his portfolio includes RCS Media Group, publisher the daily Corriere della Sera — Della Valle had expressed interest in acquiring a share of La7, but the TV channel’s parent company Telecom Italia announced on Feb. 25 that it had entered exclusive negotiations with the Cairo publishing group.
Telecom Italia Media’s board meeting March 4 is expected to shed light on the future of La7.