Eurona Telecom Wireless, S.A. (CATS:EWT) agreed to acquire Wavetech from MPA Sistemi S.r.l. and Genetek for 1.2 million on August 7, 2012. The consideration for the transaction will be paid in 25% cash and rest with the stock of Eurona Telecom through a rights issue. The transaction also includes 40% stake in Romagna Ripetitori.
Wave Tech reported turnover of 1.2 million and an operating profit of 0.16 million in 2011. Deyfin acted as legal advisor for Eurona.