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Stock market, Seat flies after debt agreement

Seat Pagine Gialle shares jump by more than 18% – Shareholders and bondholders have given the go-ahead to the company's restructuring plan.

Stock market, Seat flies after debt agreement

Day of glory on the Stock Exchange for the Seat Pagine Gialle stock, which arrives at mid-morning earn over 18%. The boom comes after ithe go-ahead for the company's restructuring plan, burdened by 2,7 billion in debt. The approval was given by the senior secured bonds committee, the Lighthouse bondholders committee and the reference shareholders CVC, Permira and Alfieri Associates Investors.

“It's good news – says a Mediobanca Securities report -. If we understand correctly there are only a few technical details to solve and then a positive conclusion to this endless saga will be reached. Since the devil is in the details, however, it is too early to assume that the risk of failure is completely averted".

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