& cplSiteName &

eBiscom, FastWeb Merger Approved

Light Reading
News Wire Feed
Light Reading
4/30/2004
50%
50%

MILAN -- Today the Boards of e.Biscom S.p.A. (Milan, Nuovo Mercato: EBI) and FastWeb S.p.A, following the positive assessment of the tax savings arising from the merger and the approval of the necessary modifications to the Articles of Association by the Extraordinary e.Biscom and FastWeb Shareholders’ Meetings, approved the merger of FastWeb into e.Biscom.

As previously announced, the merger represents the natural outcome of a streamlining process which was started in 2002 when e.Biscom began to focus on its core business, fixed broadband telecommunications in Italy. The merger will also allow the optimization of management efficiency and the simplification of decisional and operational processes without modifying the e.Biscom Group’s strategy and activities.

The merger will generate an additional future tax saving of approximately € 68 million deriving from the recognition, for tax purposes, of a merger difference of approximately € 207 million. The merger will be effective as of January 1st 2004 and will be operationally completed by the end of 2004. The incorporating company will maintain the name e.Biscom S.p.A. using the brand name FastWeb for commercial purposes.

eBiscom SpA

FastWeb SpA

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
Flash Poll
Upcoming Live Events
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 6, 2018, London, United Kingdom
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
March 12-14, 2019, Denver, Colorado
April 2, 2019, New York, New York
May 6-8, 2019, Denver, Colorado
All Upcoming Live Events
Partner Perspectives - content from our sponsors
One Size Doesn't Fit All – Another Look at Automation for 5G
By Stawan Kadepurkar, Business Head & EVP, Hi-Tech, L&T Technology Services
Prepare Now for the 5G Monetization Opportunity
By Yathish Nagavalli, Chief Enterprise Architect, Huawei Software
Huawei Mobile Money: Improving Lives and Accelerating Economic Growth
By Ian Martin Ravenscroft, Vice President of BSS Solutions, Huawei
Dealer Agent Cloud – Empower Your Dealer & Agent to Excel
By Natalie Dorothy Scopelitis, Director of Digital Transformation, Huawei Software
All Partner Perspectives