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) on June 5, 2019. Fondi Italiani per le Infrastrutture will acquire the entire share capital of the new Persidera, which includes five digital terrestrial frequencies and associated revenue-earning contracts and staff. In a related transaction, 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. 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. 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. As of November 15, 2019, Italian antitrust watchdog AGCM approved the transaction. As of December 2, 2019, regulatory approvals received for this transaction. Barclays acted as the financial advisor to Telecom Italia. Roberto Sambuco and Giovanni Mautone of Vitale&Co acted as financial advisor to Fondi Italiani per le Infrastrutture SGR SpA.

Fondi Italiani per le Infrastrutture SGR SpA. completed the acquisition of Persidera S.p.A. from Telecom Italia S.p.A. (BIT:TIT) and GEDI Gruppo Editoriale S.p.A. (BIT:GEDI) on December 2, 2019. GEDI Gruppo Editoriale S.p.A. (BIT:GEDI) received €71.1 million and Telecom Italia S.p.A. (BIT:TIT) received €142 million as consideration.