Milan

14 Aug

Playtech Shares Jump 19% on Flutter Interest in Italian Unit

stp2y0 CommentsRAG modelsacquisitions, Consumer Discretionary, europe, FLUTTER ENTERTAINMENT PLC-DI, Great Britain, Italy, Markets, Mergers, Milan, PLAYTECH PLC, sports, Technology

Playtech Plc’s shares jumped the most in almost three years after the European gaming company confirmed reports it was in exclusive talks with Flutter Entertainment Plc on the potential sale of its Italian unit, Snaitech, for about £2 billion ($2.6 billion).The London-listed company confirmed the discussions in a statement Wednesday, following a report by Sky News. Playtech said it had granted Flutter a period of exclusivity to complete due diligence and finalize transaction documentation. Source link lol

13 Aug

Telecom Italia to Get €250 Million in Inwit Stake Sale to Ardian

stp2y0 CommentsRAG modelsARDIAN SAS, Cash Flow, Debt, INFRASTRUTTURE WIRELESS ITAL, JULY SARL/CAEN, KKR & CO INC, Markets, Milan, Private Equity, Technology, TELECOM ITALIA SPA

Telecom Italia SpA sold its remaining stake in mobile tower operator Infrastrutture Wireless Italiane SpA, picking up the pace in its drive to de-leverage and boosting cash flow beyond its full-year guidance levels.The carrier sold its indirect holding of about 3% in the tower company known as Inwit to a group led by French private equity firm Ardian SAS, according to a statement Tuesday. The one-time phone monopoly said it will cash in approximately €250 million ($273 million) from the deal, confirming an earlier report by Bloomberg. Source link lol