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Tiscali to merge with WiMax operator Aria
2015-07-16 09:09:00| Telecompaper Headlines
(Telecompaper) Italian broadband operator Tiscali has announced that its board of directors has approved the final agreement for merger with WiMax operator Aria. In a statement, Tiscali said the merger will become effective by the end of 2015 and that it expects the transaction to produce synergies and savings in the region of EUR 10 million a year from 2016 onwards, thanks above all to network integration and access technology combination. The operator added that the combined assets of the two companies would allow strong growth in the ultra broadband service market with a particular focus on areas affected by digital divide. The deal also strengthens Tiscali's financial position, enabling it to pay back a debt of around EUR 42 million via an agreement with Russian investment fund Otkritie Disciplined Equity Fund (ODEF), financial partner of the operation.
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Category:Telecommunications