Tiscali gets new shareholder

14 May 2019

Italian ISP Tiscali has announced that Amiscora, an investment vehicle run by banker Claudio Costamagna and two former telecoms industry executives, has acquired 22.06% of its shares. The bulk of the stake was acquired from the Russian-owned, Cyprus-registered Investment Construction Technology Group (ICT Group), with a small interest also bought from SOVA Disciplined Equity Fund. Amiscora will work with Tiscali’s founder and shareholder Renato Soru under a shareholder agreement to implement a recovery plan for the telco.

Amiscora was founded by Claudio Costamagna, founder of the financial firm CC & Soci, while it also involves ex-Metroweb CEO Alberto Trondoli and Manilo Marocco, a former independent director at rival ISP Fastweb.

Italy, Tiscali