Marbles Srl entered into an agreement to acquire 9.99% stake in Retelit S.p.A. (BIT:LIT) from Axxion S.A. (SNSE:AXXION) for €41.9 million on September 30, 2020. The shares will be acquired at €2.55 per share. In a related transaction, Marbles Srl entered into an agreement to acquire 0.24% stake in Retelit S.p.A, from Frankfurter for €1 million and an agreement to acquire 100% of Fiber 4.0 S.p.A. which owns 13.86% stake in Retelit on September 30, 2020.

The agreements will result in Marbles Srl directly and indirectly holding an aggregate stake representing 24.10% of the share capital of Retelit S.p.A. The acquisition of Retelit is conditional upon the consummation of the acquisition of Fiber 4.0, the receipt of Italian "Golden Power" and antitrust clearances. As on October 27, 2020, the acquisition of Fiber 4.0 was completed. As on January 8, 2021, AGCM, Italy's antitrust and competition authority, cleared the acquisition.

Mediobanca Banca di Credito Finanziario S.p.A. (BIT:MB) and Alvarez & Marsal Holdings, LLC acted as financial advisors, Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor and KPMG provided due diligence to Marbles Srl.