NEWS
Italians Near Satellite Deal
Deal Underway To Bring Internet And TV Services By Cecilia Zecchinelli, Daily Variety
5-Apr-00
A new company started by former Telecom Italia CEO Franco Bernabe is close to sealing an accord with Italyís state-owned defense and engineering company Finmeccanica to offer Internet and TV services via satellite, Il Sole 24 Ore reported Monday. The new service, which Bernabeís company Franco Bernabe And Co. is developing with Finmeccanica aerospace unit Alenia, would compete with Italyís two existing satellite TV operators, Canal Plus subsidiary Telepiu and Stream, a unit of Telecom Italia and Rupert Murdochís News Corp. Bernabe, who was Telecom Italiaís CEO until Olivetti bought the former telephone monopoly last year, said his company will consider seeking a stock market listing, the newspaper reported. The operation is backed by Italian merchant bank IMI and the European investment fund run by former Fininvest CEO Aldo Livolsi.
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