Swisscom has signed the agreements for the sale of its stake in Metroweb S.p.A.
Aug 9, 2016
Berne, 05 August 2016
Swisscom Italia S.r.l. has signed the agreements for the sale of its 10.6% stake in Metroweb S.p.A. to the main shareholder Metroweb Italia S.p.A. The shareholder agreement, which confers to Swisscom Italia certain minority rights, terminates with the closing of the transaction. The transaction amounts to 80 million euro, in line with the current valuation recognized by the offer presented by the Italian utility company Enel to acquire 100% of Metroweb Italia S.p.A.
The transaction is subject to the approval by the Italian Competition Authorities and the closing is expected this autumn.
After four years since it became a shareholder of Metroweb S.p.A., Swisscom considered the current market conditions favorable to dispose of its stake. Commercial relations between Fastweb and Metroweb S.p.A. will remain in place.
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