Marco Boglione, chairman of BasicNet, is taking over the minority stakes of his brothers Enrico and Francesco in Basic World, the family holding company which owns 36.65 percent of BasicNet's shares. Both Enrico and Francesco, who are involved in other sectors, own 4.7 percent of Basic World. They will be given BasicNet shares worth more than €3.5 million each in exchange for their departure from Basic World, where Marco will end up owning 99.98 percent of the shares. The balance will be owned by Marco's wife, Daniela Ovazza. Marco's two elder sons, Lorenzo and Alessandro Boglione, are working in BasicNet, respectively as vice president of sales and as chief executive of the group's Italian sales subsidiary.

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