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Vienna/ Cagliari (pte036/07.05.2003/14:12) - The sale of Austrian ISP EUnet http://www.eunet-ag.at to Tiscali http://www.tiscali.at is now official, though still pending approval by the Austrian anti-trust authority.
Global Equity Partners http://www.gep.at will receive 14m euros in newly issued stocks for the Austrian provider. Tiscali expects the transaction to yield synergy effects of up to 2.5m euros.
Founded in 1991, EUnet is the oldest commercial ISP in Austria. EUnet considers Tiscali a strong international partner. All 15,000 EUnet customers will have access to the Tiscali product palette, as well as the international backbone of the Italian carrier.
Once the takeover goes through, Tiscali hopes to achieve an annual turnover of 28m euros in Austria. The company also intends to increase its private customers.
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