Milan, January 4, 2021 – The Board of Directors of Italtel, a multinational Information & Communication Technology company, met on  December 31st 2020 and decided – after an in-depth analysis of the two final and binding offers presented by Exprivia S.p.A. and by PSC Partecipazioni S.p.A. for the acquisition of the Group headed by Italtel – to choose the proposal presented by PSC Partecipazioni, a group active in the design and construction of Electricity, Telecommunications, Healthcare and Transport Infrastructures.

The proposal of PSC, with a capital investment of 44 million Euro and with the availability of new finance for 30 million Euro, was considered the best in consideration of the Business Plan that allows to sustain the acceleration of the company by seizing the opportunity of digitization of the Strategic Infrastructures, of the financial endowment that ensures rebalancing and solidity in the short to medium term and, finally, the satisfaction of creditors.

The Industrial Plan will now be submitted for examination to Studio Spada, an independent professional hired by Italtel, and presented to the Court of Milan by 5 February, in order to obtain approval.

Stefano Pileri, CEO Italtel says: “I am happy to celebrate our 100th anniversary by giving new impetus to the industrial path, which began in 1921 and has been continuously dedicated to the development and improvement of communications, so important in the world. In Europe, with the Next Generation Europe plans, a new development season is opening in which we will have the opportunity to contribute significantly, since the networks will be the protagonists of this future.”

“In Italy, the acceleration that is being given to the development of Ultra Broadband and 5G networks and, on based on these, to the digital evolution of the country’s industrial, logistical, administrative and strategic infrastructure processes, requires a decisive consolidation process aimed at giving life to strong subjects, capable of supporting and implementing this digital transformation in a short time. We are convinced that Italtel, with its extraordinary skills, can be an important component of this design”, comments Pileri.