The pledge on Telecom shares owned by Telco granted in favor of the lending banks was cancelled. This was announced in a statement by the holding company, which controls about 22% of the telephone group.
Telco has in fact fully repaid the bank loan (approximately 677 million including accrued interest) and the bond loan subscribed by the shareholders (approximately 1,878 billion including accrued interest) through resources linked to shareholder loans for a total of 2,555 billion, disbursed by the shareholders in proportion to the shares of the share capital of the company.
"Following the repayment of the bank loan - it reads - the pledge on the Telecom ordinary shares owned by Telco granted in favor of the lending banks was canceled and, as a result, the call option on the ordinary shares was canceled Telecom for the hypothesis of possible enforcement of the pledge”.
Furthermore, "pending the authorizations from the competent Authorities necessary for the completion of the demerger, the shareholders have extended the duration of the shareholder agreement on Telco until June 30, or, if earlier, until the effective date of the demerger".
