21 May 2018
| Alan Burkitt-Gray
Italian carrier Retelit is talking to potential short-term acquisitions in its home market, and is also looking for ways to expand in Hong Kong and Singapore in the medium-term.
But CEO Federico Protto told Capacity that Retelit
recognises it could be an acquisition target itself. "We can be
a very attractive target for international companies that need
to have a network in Italy," he said.
Protto was talking to Capacity just 10 days after shareholders backed him for a further
three-year term at the head of the company, rejecting moves
by an activist investor to put a team including former Sparkle
CEO Alessandro Talotta in charge.
In the past three years Protto and his colleagues have
increased sales by 50% and turned a loss in 2014 to a healthy
profit in 2017. "It was a significant turnaround," he said.
"Now the situation is healthier, what are we going to do with
this money?" He wants to increase sales another 50% by
Retelit is looking for niche acquisitions, including
municipally owned cable companies and "companies with a good
competitive infrastructure base". He is "already talking to
several companies", he said.
Outside Italy, Retelit has a partnership with BICS to go to
destinations such as Frankfurt and London, but he is
considering Asian expansion "through acquisition or
partnerships – and a partnership is most