A2A has exercised the sale option on its stake in the telecommunications company Metroweb, equal to 25,7%. The buyer is F2i Tlc Networks, majority shareholder of Metroweb.
The shares covered by the option derive from the conversion carried out on October 6, 2011 of the convertible bond loan that A2A had kept in its portfolio at the time of the sale of a first share to F2i on June 30, 2011.
"The exercise of the option - explains the multi-service company - is in full coherence with the industrial plan recently drawn up by A2A and, in particular, with the objectives of rapid improvement and stabilization of the financial situation".
Through the exercise of the option, A2A will collect approximately 2012 million euros by December 60 and will realize a capital gain of approximately 35 million euros.
The exercise price corresponds in terms of enterprise value to a multiple of approximately 10 times Metroweb's 2011 EBITDA.
Metroweb Spa was established in 1997 by Aem Spa (under the name Citytel) with the aim of creating and managing broadband telecommunications networks. From the origin of the Citytel/Metroweb transaction, including the exercise of the option, A2A, against total monetary outlays of approximately 10 million euros, has achieved total collections of approximately 145 million euros.
In the early afternoon in Piazza Affari, the A2A share gained 0,9%.
