November 7, 2018 / 12:51 PM / 10 months ago

UPDATE 1-Tiscali asking 30-40 mln euro more for spectrum licence -sources

(Adds Tiscali statement)

MILAN, Nov 7 (Reuters) - Telecoms operator Tiscali is still in talks with Fastweb on a deal to sell its spectrum licence and is asking for 30 to 40 million euros more in light of Italy’s recent 5G auction, two sources close to the matter said on Wednesday.

In July the two companies signed an agreement under which Fastweb would acquire the spectrum licence held by Tiscali unit Aria for 40 MHz in the 3.5 GHz band as well as Tiscali’s Fixed Wireless Access (FWA) branch.

The value of the deal was estimated at around 150 million euros ($172 million).

“At present, there are no new elements to be communicated to the market regarding the partnership with Fastweb,” Tiscali said in a statement, adding it expected to finalise the deal this month.

Fastweb declined to comment on the matter.

Tiscali shares were up 17 percent at 1130 GMT after being temporarily halted from trading following a report in Italian daily Il Sole 24 Ore about a possible sweetened offer by Fastweb. Fastweb is the Italian subsidiary of Swiss telecom group Swisscom. (Reporting by Stephen Jewkes; writing by Francesca Landini; editing by Jason Neely)

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