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Italy's DBA agrees to sell Slovenia's Actual IT to Telekom Slovenije

Author Radomir Ralev
Italy's DBA agrees to sell Slovenia's Actual IT to Telekom Slovenije Author: Rachel Johnson.

LJUBLJANA (Slovenia), March 28 (SeeNews) - Italian diversified holding DBA Group has approved the sale of the entire equity capital of Slovenian company Actual IT to state-controlled Telekom Slovenije [LJE:TLSG] for 20.6 million euro ($22.7 million), the telco said on Monday.

Telekom Slovenije will acquire 2,040,275 Actual IT shares, with their purchase price calculated considering an agreed 30 million euro enterprise value of the IT firm minus the estimated value of its indebtedness, available cash and the gap between working capital and target working capital, the telecoms operator said in a filing with the Ljubljana Stock Exchange.

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The sale and purchase agreement is expected to be signed on March 28, Telekom Slovenije said.

The transaction is expected to be completed within the next six months subject to the fulfillment of several closing conditions.

The transaction will allow Telekom Slovenije to strengthen its position on the Slovenian ICT market and generate important synergies, the company noted.

Telekom Slovenije's shares traded up 0.35% at 57.20 euro by 1233 CET on Monday on the Ljubljana bourse.

($ = 0.9057 euro)

Telekom Slovenije d.d. is among the biggest companies in SEE, for more reference take a look at Top 100 companies
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