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Telecom Italia's 59.6% stake in Finsiel went to Cos.it

06/22/2005 - 12:00 PM

Telecom Italia and Cos.it, the Newco incorporated by the Cos Group and Interbanca for the acquisition of Finsiel, announce that today the transaction involving the sale of Telecom Italia’s 59.6% stake in Finsiel to Cos.it was concluded. The transaction, previously announced on February 24, 2005, was carried out with the authorization of the relevant Regulators.

Exercising its put option, Telecom Italia will sell its remaining 19.9% stake in Finsiel to the Cos.it Group by the end of the year.

Milan, June 28, 2005