Acquisition Telecontatto
12 6월 2006 - 4:01PM
UK Regulatory
RNS Number:3747E
Elitel Telecom S.p.A.
12 June 2006
For immediate release 12 June 2006
Elitel Telecom S.p.A.
Acquisition of Telecontatto Srl
Elitel Telecom S.p.A. ("Elitel") (AIM: ETM), the independent Italian
telecommunications group, is pleased to announce that it has acquired
Telecontatto Srl ("Telecontatto") for a maximum total consideration of Euro300,000.
Telecontatto operates two call centres, based in Milan and Turin.
Under the terms of the acquisition agreement Elitel will acquire an initial
stake of 52% in Telecontatto for a cash consideration of Euro156,000. Elitel will
acquire the remaining 48% for up to Euro144,000 payable in cash or shares on or
before 31 October 2006.
Telecontatto generated revenues of Euro4.7m in the year to 31 December 2005
producing an EBITDA of Euro470,000. . The majority of the company's business
comprises "in-bound" help desk services for a number of major national and
multi-national clients primarily in the automotive and retail sectors.
Commenting on the acquisition, Federico D'Este, Chief Executive of Elitel, said:
"We are delighted to welcome Telecontatto into the Elitel group. The business
has a strong client base and will add further to our two existing call centre
activities, which generated revenues of Euro13.9 m in 2005 and which are continuing
to perform well in the current year.."
Enquiries
Elitel Telecom S.p.A +39 02 441 0410
Federico d'Este (Chief Executive)
Ezio Ravaccia (Chief Financial Officer)
Buchanan Communications +44 (0)20 7466 5000
Mark Edwards/Isabel Podda/Jeremy Garcia
Charles Stanley Securities +44 (0)20 7149 6000
Russell Cook/Freddy Crossley
Notes to Editors
Elitel is an independent Italian fixed line telecommunications group. It
provides a broad range of voice, data and broadband services, including
voice-over IP ('VoIP'), to both businesses and residential customers. The Group
also provides wholesale telecommunications services to other carriers,
international call services specifically for the Italian ethnic market and
telecommunications services to premium content providers. Elitel's network,
which covers the whole of Italy, is based on interconnection agreements and
access through the leasing of lines from carriers including Telecom Italia and
other international carriers.
By 31 December 2005 the Group's own fixed line customer base comprised more of
69,000 business customers; 175,000 residential customers and more of 9,200 VoIP
end users.
In February 2006, Elitel (www.eliteltelecom.com) floated successfully on AIM,
part of the London Stock Exchange, raising #8.0 million to fund the expansion of
the Group.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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