Telecom Italia’s Inwit approves merger

Telecom Italia’s Inwit approves merger

Shareholders of Telecom Italia’s tower unit Infrastrutture Wireless Italiane (Inwit) have approved the merger of fully-owned Revi Immobili, Gestione Due and Gestione Immobili into Inwit.

Telecom Italia Inwit

The approval of the merger by incorporation was confirmed in a meeting yesterday, which had 83.5% of the company’s shareholders by capital present and was chaired by Francesco Profumo, chairman of the board since May 18, 2015. The news comes three months after Telecom Italia’s acquisition of the companies had taken place on January 11, 2016.

Inwit shareholders also approved the appointment of Paola Bruno as a director of the company and member of the company’s nomination and remuneration committee.

The company’s 2015 financial statements, which closed with a profit of €62.93 million, was approved and was the total dividend payment of around €56.7m.

In November 2015, Telecom Italia had announced it was to sell part of its stake in Inwit, with the intention to retain a 15%-20%. 

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