Brief: Acotel Group to sell 100 pct stake in Noverca to Telecom Italia
18/10/2016 06:45
Oct 18 (Reuters) - Acotel Group SpA ACO.MI :
* Said on Monday it entered into a preliminary agreement
with Telecom Italia SpA TLIT.MI for the sale of its 100
percent interest in Noverca Srl
* Says Noverca Srl is a mobile virtual network aggregator
present in the Italian market
* The transaction will be concluded at a price based on an
enterprise value of 4.5 million euros ($5.04 million)
* Transaction price will be adjusted to the value of the
target company's net debt at Oct. 31, provisionally valued at
about 0.5 million euros
* The transaction will presumably be completed by the end of
October
* The seller will also receive up to a further 0.5 million
euros provided that Noverca's platform achieves the stated
performance indicators
Source text for Eikon: urn:newsml:reuters.com:*:nBIA172eb
Further company coverage: ACO.MI
($1 = 0.8928 euros)
(Gdynia Newsroom)
((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))