The Italian company TISCALI and the Dutch WOL - WORLD ONLINE have concluded an agreement foreseeing the merger of the two through the incorporation of WOL into TISCALI. The operation will be carried out through an exchange of shares valuing WOL at EUR 5.9 billion (or EUR 20 per share in WOL) and will give birth to the second largest internet service provider in Europe behind the German T-ONLINE. The new company will be able to count on a total of 6.1 million user spread out over 15 European countries. It will have a strong market capitalisation of around EUR 12.5 billion and will keep the TISCALI name. The shareholder of the Italian group will hold 56.7% of the entity, in case of the full accession of the offer.