11th Jan 2008 07:00
BT Group PLC11 January 2008 DC08-006 11 January 2008 BT ITALIA AND I.NET COMPLETE MERGER BT and I.Net S.p.A. ("I.Net") today announced the completion of the mergerbetween BT Italia S.p.A. ("BT Italia") and I.Net approved at I.Net'sExtraordinary General Meeting in September 2007. The merger follows theacquisition by BT of Etnoteam's 13.6% stake in I.Net and the subsequent publictender offer for the remaining shares in public hands in April 2007. BT Italia is Italy's leading supplier of communications solutions and servicesdedicated solely to business and public sector customers. I.Net is anacknowledged leader in security and business continuity solutions, guaranteeing'Business Continuity' by planning and managing service-enhanced ICTinfrastructures for its corporate customers. Francois Barrault, CEO BT Global Services, said: 'The completion of this complextransaction marks an important step in the continued development of BT GlobalServices in Italy. The merger of these two leading businesses follows the integration of Albacom, the acquisition of Atlanet and the re-branding of ourItalian operations as BT Italia.' The Chairman of I.Net, Sally Davis, said: 'The completion of this mergerdemonstrates the success achieved by Enrico Casini and his team in developingI.Net over the past few years into a leading provider of services to theenterprise market. I am confident that the combination with BT Italia willdeliver considerable benefits to both companies.' Corrado Sciolla, CEO BT Italia, said: 'I.Net's market-leading skills in businesscontinuity and disaster recovery will significantly expand the services that BTItalia offers to its entire customer base. With this merger BT Italia confirmsits leading position in the communication services to the Italian businesscommunity.' As at the last reported balance sheet date of September 30, 2007, the gross assets of I.Net were €173.1m. -Ends- About BTBT is one of the world's leading providers of communications solutions andservices operating in 170 countries. Its principal activities include networkedIT services; local, national and international telecommunications services; higher-value broadband and internet products and services and converged fixed/mobile products and services. BT consists principally of four lines of business:BT Global Services, Openreach, BT Retail and BT Wholesale. In the year ended 31 March 2007, BT Group plc's revenue was £20,223 million with profit before taxation of £2,484 million. British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York. For more information, visit www.bt.com/aboutbt This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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