TURIN, Italy-The shareholders of Telecom Italia Mobile (TIM) voted to assign Telecom Italia’s shareholding in Stet Mobile Holding to TIM. After the restructuring, TIM will detain 100 percent of the share capital of Stet Mobile Holding, while Telecom Italia will detain the entire share capital of Stet International Netherlands, which controls fixed-line and integrated fixed-mobile interests.
Stet Mobile Holding owns 38 percent of Greek wireless operator Stet Hellas.
The reorganization will concentrate the company’s foreign mobile operations under TIM and its fixed-line holdings under Telecom Italia. As a result of the demerger, TIM will increase its shareholding in Stet Mobile to 55.04 percent, and Telecom Italia will increase its holdings in Stet International to 100 percent and its Stet Mobile Holdings to 44.96 percent.
The completion of the operation is expected by year-end.
