Company profile
What are the Companies involved?
Telecom Italia and it’s wholly owned subsidiary are the key companies involved, as well as Telefonica of Spain, as a new and key player in Telefonica Italia.
Who controls ETI/Euro Telecom International N.V?
Today, Euro Telecom International N.V., is in name Dutch but in reality controlled by Italian and Spanish capital. The shell company based in Holland (“ETI”) holds a controlling 50% of ENTEL shares; ETI in turn is wholly owned by another Dutch company, International Communication Holding (ICH) N.V. ICH is in turn 100% owned by Telecom Italia International N.V., also a Dutch company, in turn owned 100% by Telecom Italia S.p.A., an Italian company.
The details:
Telecom Italia S.p.A.
Piazza degli Affari 2
20123 Milan, Italy
… owns 100% of …
Telecom Italia International N.V.
Strawinskylaan 1627
1077XX Amsterdam
KvK nummer: 33254142 0000
… owns 100% of …
International Communication Holding (ICH) N.V.
Strawinskylaan 1627
1077XX Amsterdam
KvK nummer: 33281086 0000
… owns 100% of …
E.T.I. Euro Telecom International N.V.
Strawinskylaan 1627
1077XX Amsterdam
Attention: Jerry Surowiec
Fax: +31-20-30-10951
Tel: +31-20-30-10950
Email: j.surowiec@timint.nl
KvK nummer: 33267464 0000
… owns 50% of and has management control over ENTEL S.A. in Bolivia
Who controls Telecom Italia S.p.A?
Telecom Italia S.p.A. is going through changes in effective ownership. A proposal from April 2007 that would see Telefonica of Spain secure management control – or at least real power within Telecom Italia – was finally put into practice in October 2007, after Anatel, the Brazilian telecom regulators, approved the deal. Today, Telecom Italia and Telefonica of Spain compete in the Brazilian and Argentinean markets, thus raising serious anti-trust issues in those two countries.
While details of the deal are pending, if the deal goes through as planned, Telecom Italia – and thus ENTEL in Bolivia – will be controlled by a new company, Telco S.p.A. With 23.6% of shares in Telecom Italia S.p.A., Telco S.p.A. would effectively hold managerial control. Within Telco S.p.A., the largest share holder with effective managerial control would be Telefonica of Spain; the other four minority investors are Italian (Assicurazioni Generali S.p.A., Intesa Sanpaolo S.p.A., Mediobanca S.p.A., and Sintonia S.A.). Telco’s shares in Telecom Italia are comprised of direct shares brought by investors, and 100% ownership of Olimpia, which holds 18% of Telecom Italia. The result would look like this*:
*United States Securities and Exchange Commission, Form 20-F, Annual Report Pursuant to Section 13 Or 15(D) Of The Securities Exchange Act Of 1934, for the fiscal year ended: December 31, 2006. Commission file number: 1-13882, Telecom Italia S.p.A., page 186.
