Amitelo AG
Amitelo AG: Latin American Construction Group to Invest €50 million in AMITELO AG
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Zurich, 23 October 2006. Telecommunications provider AMITELO is signing a
letter of intent for an investment of €50 million with an international
investment group in the construction industry. Besides financing largescale
projects currently underway, the cooperation venture will also generate
outstanding synergy potential for AMITELO.
AMITELO’s recent large orders (in Senegal, France, Colombia, Morocco, etc.)
have caught the eye of the international investment group of a Latin
American general contractor. The Group is now looking to acquire a 45%
stake in AMITELO with an investment of €50 million.
The cooperation venture offers outstanding synergy potential for both
AMITELO and this investor from the construction sector. As a
telecommunications provider AMITELO will be in charge of installing
communication services for all the investor’s building projects (approx.
100,000 units a year). In practice this means that AMITELO will provide
both VoIP and broadband connections for all the residential and business
units.
Besides the new projects referred to above, the investment is designed
first and foremost to speed up the rollout of the two major projects in
Senegal and Morocco. With the added funding AMITELO will be able to
significantly push the completion of the 5,000 new call shops in Morocco
and the coverage of 13,000 villages in Senegal.
With a sum of €50 million for a 45% stake, AMITELO is once again
negotiating an investment well above the current share price. This step is
a clear signal from the investor that the belief exists in AMITELO’s great
potential and that the investor has every confidence in the company. This
milestone also confirms that AMITELO is on the right track with the
strategy it has adopted.
About AMITELO AG:
AMITELO AG (www.amitelo.ag), with registered office in Zürich, is an
internationally operating and innovative technology enterprise that is
active in the strong growth areas of the telecommunications sector such as
VoIP, SkyDSL, ADSL, Billing, Call Centres.
The focus of its entrepreneurial activity is on internet telephony (VoIP)
and other telecommunication technologies for operation in various regions
in Europe, Africa and South America. New global markets are expected to be
tapped in the near future. AMITELO AG is pursuing an offensive strategy of
growth in which organic and inorganic growth are very closely linked as a
means of achieving the planned sales and revenue targets.
Capital Communication AG
Andreas Duffé
Poststrasse 3
CH-8053 Zurich, Switzerland
Tel. +41 43 888 70 00
Fax +41 43 888 70 09
E-mail investors@capital-communication.ag
(c)DGAP 23.10.2006
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