Fiat buys Telefonica, Acea out of Atlanet telco

Newswire

MILAN, Oct 23 (Reuters) - Italian industrial group Fiat has bought the 67 percent of telecoms group Atlanet it did not already own from partners Acea and Telefonica , the three companies said on Thursday. In a statement, the companies said they would keep their proquota share of Atlanet's third-generation licence. Atlanet owned 12 percent of IPSE, one of five consortia that bought an Italian UMTS licence in 2001. Fiat's group debt will rise by about 22 million euros as a result of the buy.

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