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Telecom Italia sells Milan HQ

2014-04-02 02:00:00| Total Telecom industry news

No moving trucks required as Italian incumbent rents back building under long-term contract.

Telecom Italia sells historic Milan HQ for EUR 75 million

2014-04-01 09:27:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has announced the sale of its historic headquarters in Milan's Via Negri to Fondo Inarcassa RE for EUR 75 million. However, the company specified that it had signed a long-term rental contract at the same time as the deed of sale, so the building will remain the Milanese headquarters of Telecom Italia for the foreseeable future. Located in one of the most sought-after locations in Milan city centre, very close to the Piazza Affari stock exchange and the Duomo, the 11,600 square meter building has 6 floors above ground and was completely refurbished in 2007. It is mainly filled up with offices, but also houses a telephone exchange on the ground floor and basement. The sale is part of a major real estate rationalisation plan encompassing some 14,000 buildings, with Telecom Italia looking to reduce annual rental costs that currently stand at around EUR 700 million.

Tags: eur million italia historic

Telecom sells AAPT for A$450m

2013-12-08 22:38:10| Telecom - Topix.net

Telecom Corp, the country's biggest telecommunications company, has sold its Australian AAPT unit for A$450 million to ASX-listed internet service provider, TPG Telecom, beating initial expectations of what the unit would go for.

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Telecom Italia sells Telecom Argentina stake for USD 960 mln

2013-11-14 09:49:00| Telecompaper Headlines

(Telecompaper) Telecom Italia has agreed to sell its entire stake in Telecom Argentina to Fintech Group for USD 960 million. The operator confirmed in a statement that Fintech would buy the Telecom Argentina shares held by its units Telecom Italia International, Sofora Telecomunicaciones, Nortel Inversora and Tierra Argentea. The company added that USD 100.5 million of the total corresponds to additional agreements related to the transaction, including an agreement to continue providing the Telecom Argentina companies technical support and other services for up to three years.

Tags: italia argentina usd telecom