(Alliance News) - Tessellis Spa, the controlling shareholder of Tessellis, and GO Internet Spa have signed an agreement for Tessellis to carry out an investment transaction in GO Internet.

The transaction is aimed at expanding the Tessellis Group's commercial offering in the B2B sector and strengthening GO Internet's equity subject to certain conditions precedent.

Tessellis, through a possible corporate vehicle, will acquire a commercial receivable owed by OpNet to GO Internet and subscribe to a reserved capital increase of GO Internet by offsetting this receivable, up to a maximum amount of approximately EUR3.4 million at a price per share of EUR0.00162.

As a result of the subscription of the reserved capital increase, Tessellis will indirectly acquire a majority stake in GO Internet and the conditions will be met for the promotion of a mandatory tender offer for the shares of that company.

As a result of the takeover bid, the delisting of GO Internet's shares will be promoted.

Tessellis closed Thursday's session in the red by 15 percent at EUR0.33 per share, while GO Internet closed flat at EUR0.0018 per share.

By Maurizio Carta, Alliance News reporter

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