Italy’s T-Mobile confirms a €30m buyout

05 February 2018 05:03:22Italian telecoms giant T-Mo is reportedly close to completing a €31m buy-out of the mobile phone company’s Italian operations.

According to a report in La Repubblica, T-MO has reached an agreement with an unnamed bank to acquire the remaining 10% of T-Mobiles assets.

The buyout, which will be reported in a report on Tuesday, will see T-mo acquire around 20% of the company’s assets in a transaction worth €31 million.

T-Mobile is the latest telecommunications company to take advantage of the rise in smartphone sales to the tune of around €500m in the first nine months of 2018.

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