July 20, 2015

NTV to increase capital by €100m

Written by  Marco Chiandoni
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NTV to increase capital by €100m Kevin Smith

SHAREHOLDERS in Italian open-access operator NTV agreed at a meeting in Rome on July 17 to increase the company's capital by €100m.

Shareholders will immediately be offered an opportunity to increase their capital proportional to their existing shares in a move which is intended to raise €60m for short-term use. A further €40m will be held by the company as a reserve for longer-term expenses.

Following the increase in capital, NTV will confirm its debt restructuring with lenders. The company expects to pay 70% of its €683m debt by 2028 and the balance by 2031.

At present the main shareholders are Mr Diego Della Valle, Mr Luca Cordero di Montezemolo and Mr Gianni Punzo (33.5%, split equally between the three entrepreneurs), SNCF (20%), Intesa Sanpaolo (20%), Generali (15%), Mr Alberto Bombassei (5%), Mrs Isabella Seragnoli (5%) and Mr Giuseppe Sciarrone (1.5%).


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