The Stock Exchange celebrates Tiscali's return to Italy. The stock, after a suspension in the volatility auction, enters trading with an increase of 8,5% to 0,0153 euro. On Friday, with the markets closed, an important piece of news arrived for the company: the investment banker and former president of CDP, Claudio Costamagna acquired 22% of Tiscali's share capital purchasing it largely from Ict Holding Ltd (20,7%) and to a lesser extent (1,26%) from Sova Disciplined Equity Fund SPC.
Costamagna, who entered the capital of Tiscali in partnership with two top managers of the tcls such as Alberto Trondoli and Manilo Morocco. The three manage together Amsicora, investment company. Having finalized the purchase of the stake, Amsicora and the founder of Tiscali, Renato Soru – which holds 7,94% of Tiscali's share capital – will sign a shareholders' agreement aimed at giving a single direction to the organization and management of the company. A board of directors is convened for today, May 13, to discuss the governance structure.
Talking about the details of the transaction, Amsicora purchased 878.363.077 million shares at a unit price of €0,0085 per share compared to last Friday's closing price of €0,0141. In total, the outlay would be approximately 7,5 million euro.
The completion of the purchase should take place by the end of this month.
