Clessidra SGR S.p.A. along with Equinox S.A. have made an offer to acquire Telecom Italia Media SpA from Telecom Italia S.p.A., Salvatore Mancuso Head of Equinox said. Telecom Italia aims to Telecom Italia Media by the end of year 2012 to cut its debt. A deadline to file bids has been extended by a day to December 4, 2012, a person familiar with the matter said earlier.

Also another offer is made by Cairo Communications SpA, a person familiar with the matter said. Telecom Italia SpA is expected to discuss the offers at a board meeting on December 6, 2012.