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10 months ago
BRIEF-Acotel Group to sell 100 pct stake in Noverca to Telecom Italia
October 18, 2016 / 5:46 AM / 10 months ago

BRIEF-Acotel Group to sell 100 pct stake in Noverca to Telecom Italia

Oct 18 (Reuters) - Acotel Group SpA :

* Said on Monday it entered into a preliminary agreement with Telecom Italia SpA 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:

Further company coverage:

$1 = 0.8928 euros Gdynia Newsroom

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