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ITALIAN TU INVESTS L1.600BN IN EXPANSION PLANS
Business | September 18, 2001, Tuesday // 00:00
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Tu Mobile, the new Italian mobile phone company, is to invest L1,600bn to acquire a GSM licence in Tunisia, Romania, Bulgaria, Belarus, Ukraine and China, Italian Il Sole 24 Ore reported. The company is also to acquire a GSM licence in Poland. Emanuele Castrignano, chairman of Tu Mobile, says that it will mainly invest abroad as turnover in these countries is expected to grow by 50 per cent over the next few years. Tu Telecomunicazioni, the fixed-line division of the group, forecasts it will have a 3 per cent share of the Italian market by 2004. Tu will be the new sponsor of Italian football club Juventus starting from today.
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