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Telecom Italia raises EUR 780 mln from Inwit IPO

2015-06-18 09:04:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has announced that the IPO of a 40 percent stake in its tower unit INWIT has successfully closed and will debut on the Milan stock exchange on 22 June. The company priced the shares at EUR 3.65, bringing the total proceeds to EUR 875.3 million if the greenshoe option is fully exercised. After commissions and fees, the net proceeds to the company will be EUR 779.8 million, or EUR 857.8 million if the greenshoe is exercised.

Tags: eur italia telecom ipo

Telecom Italia investor group Telco formalises break up

2015-06-18 08:34:00| Telecompaper Headlines

(Telecompaper) Telefonica has announced that the four investors that make up Telecom Italia's holding company Telco SpA have formalised its demerger. In a statement to Spain's market regulator CNMV, Telefonica confirmed that when the demerger is recorded at the Companies Registry, it will have 14.72 percent of ordinary Telecom Italia shares, while Assicurazioni Generali will have 4.31 percent, and Intesa and Mediobanca 1.64 percent each. Four new companies will be created as a result: Telco Te Spa (Telefonica), Telco AG (Generali), Telco IS (Intesa Sanpaolo) and Telco MB (Mediobanca). It added that the eight-year pact among Telco investors will cease to have effect once the demerger is effective.

Tags: group break italia investor