Breaking News, Research 8 Sep 2023
BREAKING NEWS – 08.09.2023
| In the press release of September 5th 2023, Intred SpA, a telecommunications operator listed on the Euronext Growth Milan market, announced the conclusion of a multi-year framework agreement with Vodafone Italia, aimed at the provision of fiber-optic network sections owned by Intred in IRU (Indefeasible Right of Use), or exclusive right of use. The finalization of this agreement, aimed at implementing the connection of Vodafone’s mobile network towers in Lombardy, contributes to consolidating Intred’s position among the leading telecommunications operators in Italy, taking into consideration that the Company’s network now covers all the provinces of Lombardy. The project is characterized by its strategic importance and considerable scale; in fact, it should be noted that the first supply lot has a value of more than € 3.00 million. The agreement, as a whole, is part of the broader cooperation between the Company and major market players in terms of the exploitation of existing infrastructure for the development of synergies in the use of networks, such as to make the most of infrastructure investments in the area. Taking into consideration the press release and waiting to meet the management team in order to discuss the half-year results, we confirm our recommendation: Target Price € 22.50, Rating BUY and risk MEDIUM. |