BT Group PLC
11 January 2008
DC08-006 11 January 2008
BT ITALIA AND I.NET COMPLETE MERGER
BT and I.Net S.p.A. ("I.Net") today announced the completion of the merger
between BT Italia S.p.A. ("BT Italia") and I.Net approved at I.Net's
Extraordinary General Meeting in September 2007. The merger follows the
acquisition by BT of Etnoteam's 13.6% stake in I.Net and the subsequent public
tender offer for the remaining shares in public hands in April 2007.
BT Italia is Italy's leading supplier of communications solutions and services
dedicated solely to business and public sector customers. I.Net is an
acknowledged leader in security and business continuity solutions, guaranteeing
'Business Continuity' by planning and managing service-enhanced ICT
infrastructures for its corporate customers.
Francois Barrault, CEO BT Global Services, said: 'The completion of this complex
transaction marks an important step in the continued development of BT Global
Services in Italy. The merger of these two leading businesses follows the
integration of Albacom, the acquisition of Atlanet and the re-branding of our
Italian operations as BT Italia.'
The Chairman of I.Net, Sally Davis, said: 'The completion of this merger
demonstrates the success achieved by Enrico Casini and his team in developing
I.Net over the past few years into a leading provider of services to the
enterprise market. I am confident that the combination with BT Italia will
deliver considerable benefits to both companies.'
Corrado Sciolla, CEO BT Italia, said: 'I.Net's market-leading skills in business
continuity and disaster recovery will significantly expand the services that BT
Italia offers to its entire customer base. With this merger BT Italia confirms
its leading position in the communication services to the Italian business
community.'
As at the last reported balance sheet date of September 30, 2007, the gross
assets of I.Net were €173.1m.
-Ends-
About BT
BT is one of the world's leading providers of communications solutions and
services operating in 170 countries. Its principal activities include networked
IT services; local, national and international telecommunications services;
higher-value broadband and internet products and services and converged fixed/
mobile products and services. BT consists principally of four lines of business:
BT Global Services, Openreach, BT Retail and BT Wholesale.
In the year ended 31 March 2007, BT Group plc's revenue was £20,223 million
with profit before taxation of £2,484 million.
British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group
and encompasses virtually all businesses and assets of the BT Group.
BT Group plc is listed on stock exchanges in London and New York.
For more information, visit www.bt.com/aboutbt
This information is provided by RNS
The company news service from the London Stock Exchange
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