Egyptian tycoon Naguib Sawiris is looking to acquire an Italian Internet company, as well as setting up a data centre in Milan.
The billionaire, who is a majority stakeholder in Milan-based online advertising company Italiaonline, told Il Corriere della…
Egyptian tycoon Naguib Sawiris is looking to acquire an Italian Internet company, as well as setting up a data centre in Milan.
The billionaire, who is a majority stakeholder in Milan-based online advertising company Italiaonline, told Il Corriere della Sera that he intends to continue investing in the Italian market.
A spokesperson for Italiaonline did not respond to a request for comment.
Sawiris, who last October decided to postpone Italiaonline’s planned IPO due to unfavourable market conditions, recently expressed a revived interest in acquiring a stake in Italian incumbent Telecom Italia (TI), which has also been targeted by French incumbent Orange as well as former Telstra CEO Sol Trujillo, in partnership with a number of PE funds.
Sawiris, the former owner of Wind Telecomunicazioni, had previously said he would be interested in purchasing an interest in TI if Spain’s Telefonica exited its controlling stake.
Last week, Brazilian regulator Anatel approved the transfer of Telefonica’s 8.3% of voting shares in Telecom Italia (TI) to Vivendi, as part of the Spanish telco’s planned acquisition of broadband operator GVT.
The telecoms magnate’s past attempts at acquiring TI failed to secure political support.
