Tim sells Persidera. The telecommunications group and Gedi have signed a binding agreement with F2i and EI Towers for the sale of equity investments in the company, equal to 70% and 30% of the capital respectively, "on the basis of an Enterprise Value of 240 million euros ”. This is what we read in a note from Telecom.
The closing of the transaction should arrive in the last quarter of 2019. By then, the split of Persidera into two parts is expected: one will remain the owner of the 5 digital terrestrial frequencies, related active and personnel contracts and another into which the entire network infrastructure and associated personnel. F2i will acquire the entire capital of the new Persidera while EI Towers will acquire 100% of the new network infrastructure company.
The overall expected impact on the reduction of the group's NFP in 2019, continues Tim, is approximately 160 million, an amount which includes the consideration to be collected at closing for the 70% stake, the dividends distributed by the company and the effect of the deconsolidation of the Persidera debt.
Tim also informs that its subsidiary Sparkle has launched, together with Telekom Slovenije, a new cross-border fiber optic link directly connecting Ljubljana with Milan via a short and alternative route from the Balkans, with access options from Ljubljana, Sofia and Istanbul to Milan and to other major Western European hubs.
"We are proud of the collaboration with Telekom Slovenije which led to the creation of this land route from Turkey to the main ecosystems of Western Europe through the Balkans - said Mario Di Mauro, CEO of Sparkle - The Balkan region is today an extremely attractive for international cables and we expect the new route to attract Balkan and Middle Eastern operators looking for fast and reliable access to Europe”.
