ITALY - BS Private Equity backs acquisition of Megatel and Gigatel

Mobile telephony retailer MIT Group, backed by BS Private Equity, has agreed to buy sector players Megatel and Gigatel for an undisclosed sum. The acquisition of the two companies is part of the development strategy of MIT, especially focused on growth and external expansion. The group expects to report consolidated turnover of EUR 250m in 2006, reflecting an increase of 85% in relation to the EUR 135m reported in 2005.