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France Telecom buys Telecom Italia undersea cable subsidiary

Friday 1 October 2010 | 09:23 CET | News
France Telecom Orange has acquired 100 percent of Telecom Italia's submarine cable laying and maintenance subsidiary, Elettra, for an undisclosed amount. The French operator bought 70 percent from Telecom Italia and 30 percent from FTT Investments. Elettra's assets include two cable ships, the Certamen and the Teliri. It was valued at EUR 20 million after selling a third, petroleum industry pipe-laying vessel, prior to the deal with France Telecom. According to France Telecom, Elettra's employees and the vessels' crews will be unaffected by the transaction. The operation strengthens France

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Categories: Fixed / Internet
Companies: Elettra / France Telecom / France Telecom Marine / Orange / Telecom Italia
Countries: Italy / World
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