Milan, 26th February 2020 – Lexia Avvocati assisted Retelit S.p.A., Italy’s leading telecommunications operator, in the signing of a joint venture agreement with Libyan Post Telecommunications & Information Technology Company (“LPTIC”) Group.
The agreement envisages the establishment of a company under the Italian law, namely Retelit Med S.r.l. (the “JV”), 50% owned by Retelit and 50% by LPTIC.
The JV aims to develop opportunities and business synergies between Retelit and LPTIC in the ICT and TLC sectors, with particular reference to international ICT services in the Mediterranean basin between Europe, Asia and Africa, in order to enhance their respective assets and expertises, exploiting the unexpressed commercial potential in this area, by leveraging the natural geographical position of both Italy and Libya at the centre of the Mediterranean as “gateways” between the European and African continents.
Lexia Avvocati advised Retelit with a team composed of Francesco Dagnino, Partner, and Alessandro Guarino, Associate, while LPTIC was entirely assisted by general counsel Stewart Simpson.
