MILAN (Reuters) – Telecoms operator Tiscali and Linkem Retail, a unit of private broadband group Linkem, have agreed to merge in a deal that would create Italy’s fifth largest fixed line telecoms operator, the two companies said on Thursday.
As part of the planned deal, Linkem will receive 5.0975 Tiscali shares for each 1 euro of capital it holds in Linkem Retail. Upon completion, Linkem will become Tiscali’s largest investor with a 62% stake, they said in a statement.
The deal is expected to be completed by the first half of next year.
(Reporting by Giulio Piovaccari, editing by Maria Pia Quaglia)
