Tiscali buys stake in NETCHEMYA, QSC's joint venture in Italy
Cagliari, Cologne, 23.10.01 - Tiscali S.P.A., the leading Internet Communication Company in Europe, acquired 20% of Netchemya S.P.A. for total cash consideration of EUR 4.55 million. Netchemya was founded last year by Germany's leading alternative DSL provider, QSC AG, and Kiwi II Ventura Serviços de Consultoria S.A.. KiWi II is an investment company advised by Elserino Piol, founder of Pino Venture Partners, which is one of the leading venture capitalists in Italy's technology and telecommunications sector. QSC sold 1,137,000 of its Netchemya shares to Tiscali, reducing QSC's overall share in the joint venture from 30% to just over 25%. The share of Kiwi II now is 55 %.
Netchemya is building a DSL-network in Italy to provide access services based on DSL-technology through Internet service providers, telecommunications companies and application service providers. The joint venture has so far secured colocation space in more than 200 central offices in 29 Italian cities reaching 3,800,000 potential users. Fifteen metropolitan service centres will have been deployed and connected to a national backbone by the end of this year. Netchemya will commence to actively market its DSL services in Italy this year.
A well advanced regulatory framework and a lack of competition from cable TV networks make Italy one of Europe's most attractive markets for DSL services. Markus Metyas, CFO of QSC AG, therefore welcomes the new partnership: "With Tiscali as a partner, we will be able to further accelerate network deployment and provisioning of DSL services in Italy".
QSC AG (QSC) is the leading alternative DSL provider in Germany. This technology makes efficient use of the 'last mile' on the basis of unbundled network access, thus multiplying data traffic speeds by a factor of several times compared with standard subscriber connections. QSC offers its business and residential customers broadband 'always-on' connections to the Internet, with up and downstream data transfer rates up to 2.3 Mbps. The company's broadband network covers the 40 largest cities in Germany and reaches more than 20 million potential users.
Since April 2000, QSC has been listed on the Neuer Markt [QSC] segment of the Frankfurt stock exchange and the New York Nasdaq [QSCG]. The company's IPO increased the equity capital by more than EUR 280 million to over EUR 420 million.
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