Linkem spa, the leading provider of fixed wireless broadband services in Italy, announced a 100 million euros capital increase (see here the press release).
The investment is made for 50 million euros by funds managed by BlackRock and for other 50 millions by existing investors, including US investment holding company Leucadia National Corporation and US financial services holding company Cowen Group. Linkem is said to be valued about 700 million euros.
This investment will bring the total equity capital invested in Linkem to over 500 million euros, representing one of the largest examples of recent foreign direct investment into Italy.
Thanks to the deal Linkem will be able to accelerate growth as it expands its LTE ultrabroadband fixed wireless network across Italy.
“This financing round provides all the equity capital needed to achieve our near-term goals to cover 80% of Italian households and deliver ultrabroadband services to millions of subscribers, validating Linkem’s objective of providing simple, affordable, high-speed internet access across Italy”, Linkem’s ceo Davide Rota said.
With over 400,000 subscribers and more than 2,000 cell sites, Linkem’s ultrabroadband fixed wireless network currently covers over 60% of the Italian population, and provides service in 18 of the 20 top metropolitan areas in Italy, including Rome, Florence, Palermo, Bari, Turin and Naples. Utilizing LTE fixed wireless technology and Linkem’s portfolio of dedicated, nationwide 3.5 GHz spectrum, the company can deploy an ultrabroadband network at a fraction of the cost and time required for a comparable fiber system. Linkem is headquartered in Rome, and has offices in Florence and Milan as well as two company-owned call centers in Bari and Taranto, and today has over 700 employees.
