Telecom Italia and Espresso merge their DTT networks

Telecom Italia Media and Espresso Group have signed agreements to merge their respective DTT network operator businesses controlled by Telecom Italia Media Broadcasting (TIMB) and Rete A.

The merger between TIMB and Rete A, who own three and two digital multiplexes respectively, will create the leading independent network operator in Italy with five digital multiplexes. The operation will lead to significant industrial synergies, as the new group will be able to rely on an annual turnover of approximately €100 million, a positive income result and healthy cash generation.

The merger will be carried out through Espresso Group’s contribution of 100 per cent of Rete A shares to TIMB. On completion of the transfer, TIMedia and Espresso Group will each hold 70 per cent and 30 per cent of shares in TIMB which will control Rete A’s entire capital. Espresso Group will continue to own the equity investment in All Music.

Source; http://cablequest.org/news/international-news/item/4593-telecom-italia-and-espresso-merge-their-dtt-networks.html
Source: http://cablequest.org/news/international-news/item/4593-telecom-italia-and-espresso-merge-their-dtt-networks.html