November 13, 2018 / 6:44 AM / a month ago

BRIEF-Tiscali And Fastweb Agree On New Transaction Value For Spectrum License Sale

Nov 13 (Reuters) - Tiscali SpA:

* SAID ON MONDAY THAT IT REACHED AGREEMENT WITH FASTWEB TO CHANGE THE CONSIDERATION FOR THE SALE OF FIXED WIRELESS ACCESS UNIT AND 3.5 GHZ SPECTRUM

* THE NEW TOTAL VALUE OF THE TRANSACTION IS EQUAL TO EUR 198 MILLION

* EUR 130 MLN OF THE NEW TOTAL VALUE WILL BE PAID IN CASH, EUR 55 MILLION AGAINST A WHOLESALE DEAL FOR 4 TO 5 YEARS AND EUR 13 MILLION AS PAYABLES TO SUPPLIERS

* SAID THAT WITH THE FINALIZATION OF THE AGREEMENTS THE COMPANY WILL START THE RECOVERY PLAN FOR 2019-2021

* FASTWEB IS THE ITALIAN SUBSIDIARY OF SWISS TELECOM GROUP SWISSCOM

* THE VALUE OF THE DEAL AGREED ON JULY 30 WAS ESTIMATED AT AROUND EUR 150 MILLION,

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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