Telecom Italia to sell stake in Inwit

Telecom Italia to sell stake in Inwit

Telecom Italia is to sell part of its stake in Infrastrutture Wireless Italiane (Inwit), with the intention to retain a 15%-20% holding.

“We are ready to send tender invitations to potential bidders for the Inwit stake,” said Marco Patuano, CEO of Telecom Italia. "The aim is to keep a stake that would allow us to appoint a board member." 

Telecom Italia presently owns 60% of Inwit after raising €780 million in an initial public offering in June 2015. 

Cellnex Telecom and infrastructure fund F2i SGR are said to be preparing an offer together to acquire a stake of as much as 40% - valued at around €1.1 billion – in the company. 

Cellnex - a spin-off of Abertis Infraestructuras - owns 15,000 towers in Italy and Spain, as well as 7,300 towers that Abertis acquired from VimpelCom’s Italian unit while Inwit owns 11,500 sites. 

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