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Telecom Italia: sale of new Seat Pagine Gialle completed

08/08/2003 - 03:54 PM

Telecom Italia Group completed today the sale of its approximately 61.5% holding in the new Seat Pagine Gialle, a demerged company specialising in directories, directory assistance and business information, to Silver S.p.A..

As already communicated, the sale price is equal to €0.598 per share, reflecting an enterprise value of approximately €5.65 billion for the new Seat Pagine Gialle. The transaction will allow Telecom Italia Group to reduce its net consolidated debt by approximately €3.7 billion.