About Fastweb

Tuesday 9th of February 2016 12:33:11 PM W News Document!

Stock Exchanges

Italian Stock Exchange: FWB





Fastweb SpA is an Italian company specializing in telephone communications on land, in broadband connections and cable television. Today is the group leader of communications and Swiss Swisscom has become the most important Italian company in the field of fiber optics communications.

The company was previously listed on the Milan Stock Exchange in 2011 but the title has been delisted as a result of the tender offer launched by Swisscom.

FastWeb was born in Milan in September 1999 with a joint venture between e.Biscom and municipal multi-utility AEM Milan with a view to achieving a fiber-optic network that covers the municipality of the city of Trustees. In March 2000 the parent company is publicly traded e.Biscom and collect the necessary funds for implementing the network. Then Aem will sell its shares in exchange for ownership in e.Biscom Metroweb who manages the network of Dark Fiber in Lombardy and the remaining market share.

Since 2003 the company became part of the S & P MIB which contains the 40 largest Italian companies by market capitalization. In 2004, FastWeb is merged into the parent who will assume the same name. In January 2006, Fastweb launches a strong advertising campaign focused on the rider Valentino Rossi, who by 2005 advertised the services of Telecom Italy.

On March 12, 2007 Fastweb shares are suspended pending an announcement: the Swiss phone company Swisscom launches March 22 friendly takeover bid for all outstanding shares at a price of 47 € valuing the company EUR 3.7 billion. The largest shareholder, Silvio Scaglia, has given its share offering on April 10, 2007. On October 23, 2009 the shares were, however, decreased to € 20.190, with a loss of 57% for Swisscom in 2 years [2]. On May 15, 2007, Swisscom's Fastweb tender offer closed with 64,141,464 shares issued (82.09% of the shares tendered.)

In March 2008 it was announced that Fastweb will become a virtual operator of mobile telephony by the year ESP relying on the 3 network Italy and Nokia Siemens Networks infrastructure. [3] [4]

On February 23, 2010, in the investigation process Phuncards-Broker the Rome prosecutors in the Register of suspects some former managers and Stefano Parisi, CEO of Fastweb [5] for a round of false invoicing by 2 billion euros were carried out between 2004 and January 2007 from other companies with the willingness of former heads of Fastweb and Sparkle (a company wholly owned by Telecom Italy) [6] [7].

Fastweb defends itself by saying that "The legal case relates to events that occurred years ago (for the periods for the year 2005-2006), already the subject of dispute since the suspects, and in which the company is considered an alien and the injured party." [8 ]. Parisi also said that the responsibility for non-payment of VAT is not Fastweb [9]. To avoid the receivership of the company, requested by prosecutors in Rome, the company made a surety of 11 million euro, equal to the contested useful in the investigation [10]. On April 6, 2010 CEO Stefano Parisi has autosospeso. In its place has been replaced by President Carsten Schloter [11]. Also with a view to safeguard the company from a possible receivership, then avoided, April 1, the Board approved the spin-off in a wholesale Srl ad hoc activities, ie those under investigation. This division will be managed by its chief financial officer Peter Burmeister [12].


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