We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Elitel Telecom | LSE:ETM | London | Ordinary Share | IT0003021802 | ORD EUR0.05 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2474S Elitel Telecom S.p.A. 02 March 2007 2 March 2007 Elitel Telecom SpA ("Elitel Telecom" or the "Group") Acquisition of 58.01% shareholding by Vive La Vie SpA and Telvia SpA. The Board of Elitel Telecom today announced that it has been informed that Vive La Vie SpA ("Vive La Vie") and Telvia SpA ("Telvia") have acquired 22,090,145 Elitel Telecom ordinary shares representing 58.01% of the issued share capital (the "Acquisition") from Kiwi II Ventura-Servicos de Consultoria S.A. ("Kiwi II"), an early-stage venture capital investor in the Group. The Acquisition was effected on 1 March 2007 and has been made as part of a strategic realignment of Elitel Telecom which is expected to involve Vive La Vie and Telvia providing significant operational and financial support to implement Elitel Telecom's new industrial plan. The Company expects to finalise details of its new industrial plan within the next month and a further announcement will be made as soon as possible. Under the terms of the Acquisition Vive La Vie has acquired 9,905,249 ordinary shares (26.01%) and Telvia has acquired a further 12,184,896 ordinary shares (32.00%) from Kiwi II for a consideration which includes an earn-out calculated on the value of Elitel Telecom determined on the Group's results as at December 31, 2009. Following this initial acquisition, Kiwi II will retain a 13.45% stake representing 5,121,491 ordinary shares in Elitel Telecom held indirectly through its interest in Kiwi.com Servicos de Consultoria S.A. ("Kiwi.com"). However, it is committed to sell to Vive La Vie and Telvia a further stake of 3,422,070 Elitel Telecom (8.99%) subject to the same terms of this transaction by October 31st, 2007. The Board is also pleased to announce that Mr Giorgio Fatarella (aged 60), Chairman of Vive La Vie, has been appointed as Chief Executive of Elitel Telecom. Giorgio Fatarella has been involved in the Italian telecommunication market since its liberalisation in 1998. During that time he has grown Vive La Vie to a successful and profitable alternative telecommunications and information technology services company. Vive La Vie is focused on providing SME business customers with an integrated service. Such integration is both a trend of the market today and what businesses now expect from alternative telecommunications operators. In the 12 months ended 31 December 2006 Vive La Vie reported sales of Euro18.4m and, together with its affiliated companies, recorded total revenues of approximately Euro40.0m. Telvia is a newly formed company for the purpose of acquiring the shareholding in Elitel Telecom and providing certain financial support in realising the Group's new industrial plan. Mr Fatarella is a director of Vive La Vie SpA, G. Fatarella e C SapA and Office.Com Srl. Mr Fatarella has been involved in the telecommunications sector in Italy since its 1998 deregulation. It was at this time that he took Vive La Vie SpA into this emerging new market, transforming the company into a leading provider of fully integrated business-to-business telecommunications and information technology services. Before founding Vive La Vie in 1994, Mr. Fatarella had accumulated over 25 years of experience in creating and managing business-to-business sales networks, including the development of his own insurance brokerage business Tesmek Srl (founded in 1980 and sold in 1994) as well as advising a number of major international companies on the development of their Italian-based business sales networks. Mr Fatarella was appointed a director of STAR Srl to assist in a restructuring of the business which was put into liquidation in 1984 but which repaid all creditors with a residual distribution to its shareholders. There is no further information required to be disclosed in accordance with Schedule Two paragraph (g) of the AIM Rules. Vive La Vie and Telvia are both Italian companies. Mr Fatarella has an 39% shareholding in Vive La Vie. The remaining shares are owned by Inasco SA (28.6%), Alberto Visconti (13.6%), Ornella Longhi (11%), Anna Martinenghi (7.9%). Telvia is owned by G. Fatarella e C SapA (49%), Vive La Vie SpA (41%), Ornella Longhi (10%). The Board also announces that Elserino Piol, an advisor to Kiwi II, has today resigned as Chairman and Federico D'Este has moved from his role of Chief Executive to become Chairman. As Chairman he will have a significant role in implementing the new focus of Elitel and he will remain as key external representative in dealing with the financial community. Giorgio Fatarella commented that "Elitel has an unexpressed intrinsic value which the Company will be able to fully realise through the realisation of a new commercial and industrial plan." Federico D'Este stated that "The entry of Vive La Vie as a strategic shareholder of Elitel represents a significant turning point for Elitel with a strategy focused on the continued strengthening of the Company's position in delivering ICT services to its business customers." Elitel Telecom S.p.A +39 02 441 0410 Federico d'Este (Chairman) Nicolo Zanchi (Investor Relator) Nominated Adviser Charles Stanley Securities +44 (0)20 7149 6000 Russell Cook/Freddy Crossley Corporate Finance Advisor to Vive La Vie SpA Strempel & Partners Srl +39 02 8699 7475 David Strempel Notes to Editors About Elitel Elitel is an independent Italian fixed line telecommunications group. It provides a broad range of voice, data and broadband services, including voice-over IP ('VoIP'), to both businesses and residential customers. The Group also provides wholesale telecommunications services to other carriers, international call services specifically for the Italian ethnic market and telecommunications services to premium content providers. Elitel's network, which covers the whole of Italy, is based on interconnection agreements and access through the leasing of lines from carriers including Telecom Italia and other international carriers. Elitel is an Italian company and is subject to the provisions of Italy's Civil Code regarding changes in ownership. About Vive La Vie SpA Vive La Vie is a leader in the convergence of service offerings incorporating both telecommunications and information technology services. It is one of the top 20 licensed telecommunications operators in Italy and is focused on the SME market with an offering that fully integrates Fixed-line voice, Connectivity, Mobile voice and IT Services. It has some 5,000 customers and reaching approximately 130,000 business workstations. About Telvia SpA Telvia is a newly formed company with the specific purpose of owning its acquired stake in Elitel Telecom SpA as well as providing this Company with certain financial resources in connection with the realisation of its new industrial plan. This information is provided by RNS The company news service from the London Stock Exchange END HOLUUVSRBORORAR
1 Year Elitel Telecom Chart |
1 Month Elitel Telecom Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions