Telecom Italia Group completed today the sale of its approximately 61.5% holding in the new Seat Pagine Gialle, a demerged company specialising in directories, directory assistance and business information, to Silver S.p.A..
As already communicated, the sale price is equal to €0.598 per share, reflecting an enterprise value of approximately €5.65 billion for the new Seat Pagine Gialle. The transaction will allow Telecom Italia Group to reduce its net consolidated debt by approximately €3.7 billion.