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Italiaonline takeover bid for Seat PG seen mid-September - sources
May 28, 2015 / 12:06 PM / 3 years ago

Italiaonline takeover bid for Seat PG seen mid-September - sources

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)

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