pursuant to article 161 sixth paragraph of bankruptcy law
Milan, April 2, 2020 – Italtel announces that it has filed, on today’s date, an application pursuant to art. 161 sixth paragraph of Bankruptcy Law away the Milan Court, applying for a 120-day period to reach an agreement with creditors for its debts restructuring and the company recapitalization.
The company, with the strong support of its Shareholders and both the Financial Advisor KPMG and the Law Firm Giuseppe Iannaccone and Associates involvement, is still actively working to provide information to the industrial and financial third parties who are analyzing its dossier.
Pending the procedure, Italtel is confident that it will be possible to identify a solution that will allow the company to proceed on the markets with even more determination.
In these moments of emergency due to the pandemic in progress, the company is making a very strong contribution to adapting the capacity and spread of the networks, to their functioning and is allowing its customers to take advantage in using video- communication tools for smart working increased needs.
Italtel is also working to help hospitals in Milan and around for the construction of the communication infrastructures of the intensive care units that are being prepared, including the new structure built in two pavilions of “Fiera di Milano” inaugurated on March 31.
