Tiscali 2001 Annual Report Download - page 48
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40
All other operations effected within the Group and falling within the scope of ordinary
activities are shown in the Parent Company's Financial Statements and have been written
off in the consolidated accounts.
With regard to relations with associated parties, it's worth mentioning that in October
2001 Tiscali SpA acquired a 20% stake in Netchemya SpA, a Company with which Tiscali
director Elserino Piol is indirectly associated via a 0.55% stake held by Pino Partecipazioni
SpA. On this respect, it's also worth mentioning that the Company Franco Bernabè & C.
SpA has provided organisational consultancy services to the Parent Company. These
services were rendered at market value for a fee of about EUR 250,000.
Recent events
In early 2002, Tiscali continued to develop its activities in Europe, as part of its business
strategy aimed at establishing the Group as a leading Internet Company. In January 2002,
a pan-European distribution agreement was signed with Fujitsu Siemens Computers, a
leading international computer Company, all of whose PCs will now be sold with a Tiscali
dial-up connection pre-installed. As a result of this agreement, Tiscali will be able to reach
a huge user base, and, working with Fujitsu Siemens, provide tailored localised solutions
in all European countries.
In the sphere of content distribution, an important agreement was signed with Dorna,
which holds the rights to the world motorcycle and motocross championships.
Under the terms of this agreement, Tiscali will provide server, band and lines, both for the
official website www.motograndprix.com and for the on-site satellite coverage.
In March 2002, an agreement was reached for the acquisition of the 30% of Excite Italia
shares still owned by Excite@Home. Tiscali (which on March 21, 2001 purchased 70% of
Excite Italia), will thus gain 100% ownership.
At the same time, Tiscali obtained ownership of the technology used in producing the
Excite portal and in customising its services (all distinctive characteristics of www.excite.it),
as well as ownership rights to the Excite trademark and web domains for the whole of
Europe.
In the early months of 2002, corporate restructuring progressed as planned, as shown
below by country:
Germany
In the first quarter of 2002, Tiscali GmbH purchased Guglielmo GmbH from Tiscali SpA for
about EUR 4mn, and incorporated by merger Time To Trade, SD Informationtechnik, Tiscali
Voice GmbH, Addcom AG, SurfEU GmbH, and Guglielmo GmbH.