MILAN, May 28 (Reuters) - Italiaonline, the Internet company controlled by Egyptian businessman Naguib Sawiris, is expected to launch its takeover bid for Seat Pagine Gialle around mid-September, two sources close to the matter told Reuters.
Italiaonline agreed to buy a stake in the Italian directories company in May in a deal that will trigger a mandatory tender offer and create a leading online advertiser.
Shareholders of the two companies should approve the merger towards year-end, the sources said.
Italiaonline is a wholly-owned subsidiary of Sawiris’s Orascom TMT Investments. (Reporting by Stefano Rebaudo, writing by Danilo Masoni)