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• Tiscali SpA: rationalisation of group structure via separation of Italian business from holding company activities

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  Bart Froyen    Group moderator

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  Tiscali SpA: rationalisation of group structure via separation of Italian business from holding company activities

  Cagliari, 3 January 2005
  
  Tiscali SpA announces the transfer of all businesses operating in Italy to Tiscali Italia Srl, with effect from 1 January 2005. These activities comprise the consumer, business, media and technology activities and Italian network infrastructure, together with the related human resources and licenses and authorisations to provide telecoms and internet services in Italy.
  
  
  Sergio Cellini, who previously headed up the Italian activities, has been appointed Managing Director of Tiscali Italia Srl.
  Also on 1 January, all head office functions and services carried out on behalf of the group were transferred to Tiscali Service Srl, which will manage the information technology and media development activities relating to new products for the entire Tiscali group.
  
  
  Both companies are wholly owned and directly controlled by Tiscali SpA.
  These transactions are aimed at rationalising the Tiscali group’s structure and
  businesses and optimising performance. In addition, the formal separation of corporate functions from the Italian operating activities will provide a clearer representation of the business and financial situation of the different functions
  
  • 06 Jan 2005, 08:23 am
  Bart Froyen wrote: > Cagliari, 3 January 2005 > > Tiscali SpA announces the transfer of all businesses operating in > Italy to Tiscali Italia Srl, with effect from 1 January 2005. These > activities comprise the consumer, business, media and technology > activities and Italian network infrastructure, together with the > related human resources and licenses and authorisations to provide > telecoms and internet services in Italy. > > > Sergio Cellini, who previously headed up the Italian activities, has > been appointed Managing Director of Tiscali Italia Srl. > Also on 1 January, all head office functions and services carried out > on behalf of the group were transferred to Tiscali Service Srl, which > will manage the information technology and media development > activities relating to new products for the entire Tiscali group. > > > Both companies are wholly owned and directly controlled by Tiscali > SpA. > These transactions are aimed at rationalising the Tiscali group’s > structure and > businesses and optimising performance. In addition, the formal > separation of corporate functions from the Italian operating > activities will provide a clearer representation of the business and > financial situation of the different functions