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Image header Agence Europe
Europe Daily Bulletin No. 7711
Contents Publication in full By article 31 / 39
ECONOMIC INTERPENETRATION / (eu) telecommunications

SEAT PG - SEAT PAGINE GIALLE, Italian publisher of the "yellow pages" telephone directory, and TIN.IT, Internet subsidiary of TELECOM ITALIA, have concluded an agreement to pay 1.9 bn euro for the German firm TELEGATE (88 million euro turnover in 1999), specialised in marketing assistance over the phone. This operation will come in two stages: SEAT PG will, through a share swap, initially acquire the German firm's shares in LIGAPART (49.8%) and RSL (1.6%). Then, it will make a bid for the remainder of the capital placed on the stock market. In all, this operation values TELEGATE at 1.9 bn euro. In addition, SEAT PG has taken control of EUREDIT, an Internet site in France wholly dedicated to business. It has taken the 38.7% stake held by ODA, the "yellow pages" division of FRANCE TELECOM for close to 35 million euro, taking its total share to 85%, against the previous 46.3%.

Contents

THE DAY IN POLITICS
GENERAL NEWS
TIMETABLE
ECONOMIC INTERPENETRATION