Alice bids expected Friday, papers say

29 Apr 2008

Dow Jones reports that companies wishing to bid for Telecom Italia’s French broadband business Telecom Italia France (Alice) will have to submit binding offers to investment bank Calyon by Friday. The original deadline for bids was set as Tuesday but was postponed in order to give some bidders more time to prepare their offers. A spokesperson for the Italian telco declined to comment on Monday. French internet providers Iliad and neuf Cegetel, along with cable operator YPSO/Numericable submitted non-binding offers for Alice in March this year. According to people familiar with the situation, the non-binding offers are believed to be in the region of EUR800 million (USD1.25 billion).