Telecom Italia: Finsiel accepts the Public Tender Offer for Lottomatica

12/28/2001 - 00:00 PM

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At today´s Board meeting, the Directors of Finsiel resolved to accept the Public Tender Offer made by Tyche S.p.A. (De Agostini Group) for 100% of Lottomatica S.p.A. shares, at the improved price of €6.55 per share under the terms of a revised Offer.

In compliance with the Board decision, Finsiel will tender its own interest in Lottomatica S.p.A., equal to a total of 32,300,850 shares and corresponding to 18.3% of the company´s subscribed share capital.

Finsiel´s income is expected to be approximately €212 million, with a capital gain of around €207 million.

Taking into consideration Olivetti´s 15.6% holding in Lottomatica, the overall proceeds for the Olivetti-Telecom Italia Group would amount to approximately €390 million, with a capital gain of approximately €370 million.