EI Towers S.p.A. signed a binding agreement to acquire all the network infrastructure and associated staff of Persidera S.p.A. from Telecom Italia S.p.A. (BIT:TIT) and GEDI Gruppo Editoriale S.p.A. (BIT:GEDI) on June 5, 2019. EI Towers will acquire 100% of the new network infrastructure company. In a related transaction, Fondi Italiani per le Infrastrutture SGR SpA.

signed a binding agreement to acquire Persidera S.p.A. from Telecom Italia S.p.A. (BIT:TIT) and GEDI Gruppo Editoriale S.p.A. (BIT:GEDI). The combined enterprise value through these transactions is €240 million. The deal remains subject to approval by the competent authorities and expected to close in the last quarter of 2019.

As of December 2, 2019 the transaction was approved by necessary authorities. The expected overall impact on the Telecom Italia's NFP reduction in 2019 is of approximately €160 million; such amount includes the consideration for the 70% held to be collected at the closing, the dividends distributed by the Telecom Italia and the effect of the deconsolidation of Persidera's debt. Barclays acted as the financial advisor to Telecom Italia.

Roberto Sambuco and Giovanni Mautone of Vitale&Co. S.P.A. acted as financial advisors for EI Towers S.p.A.