TI poised to sell neuf Cegetel stake

9 Mar 2006

Telecom Italia says it is preparing to offload its 5% holding in French operator neuf Cegetel, formerly neuf Telecom, and has valued the stake at EUR200 million (USD283.3 million). neuf Cegetel was formed through the merger of neuf Telecom and Cegetel, and is France’s second largest ISP behind incumbent France Télécom. It is preparing for a flotation in Paris, which could take place as early as this year. The news will be of interest to Belgacom and Viviendi which have both said they would like to raise their holdings in neuf Cegetel.

France, neuf Cegetel, Proximus, Telecom Italia (TIM)