Italian network operator Wind Tre has acquired the assets of wholesale fixed wireless access (FWA) provider OpNet, formerly known as Linkem. In a statement announcing the deal, Opnet said Wind Tre has acquired 100 percent of the company, excluding Tessellis, of which Opnet is a 59.26 percent shareholder.
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Acquisition Details
Opnet stated that the transaction is subject to government and regulatory approvals but is expected to be finalised in the coming months. During this period, both companies will continue to develop their respective businesses operating in full compliance with rules.
In a separate announcement, investment banking and capital markets firm Jefferies Financial Group said it agreed to sell all of OpNet's operations to Wind Tre, a subsidiary of CK Hutchison Group Telecom Holdings. Under the terms of the agreement, the sale is worth EUR 485 million. This sale is anticipated to close in the second or third quarter of 2024.
Spectrum Enhancement
Opnet holds spectrum crucial for 5G, and this transaction will bolster Wind Tre's existing spectrum. These frequencies include 20 MHz in the 3.6-3.8 GHz band and 200 MHz in the millimeter band 26.5-27.5 GHz, acquired at a cost of 516.7 million euros in the 2018 5G frequency auction.
According to the official statement, this acquisition will align with Wind Tre's strategy for the optimisation and development of the network infrastructure.
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OpNet
OpNet was founded in 2001, originally operating as Linkem until September 2022. The company then changed its name following the corporate spin-off of the retail branch and its recent merger into Tiscali, now known as Tessellis. As a result of the transaction, which was completed in July 2022, Opnet is the majority shareholder of Tessellis with 59.26 percent of the shares.
