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Telecom Italia to explore sale of tower unit Inwit
2015-09-28 08:48:00| Telecompaper Headlines
(Telecompaper) Telecom Italia has given its CEO a mandate to explore the sale of its mobile-phone tower unit Inwit, with Spain's Cellnex Telecom and Italian infrastructure fund F2i said to be among the interested bidders. "Telecom Italia will explore opportunities to enhance the value of the Inwit stake," said Telecom Italia in statement released after its board meeting in Rio de Janeiro. Inwit operates some 11,500 sites across Italy and the operator raised around EUR 875 million after selling a 40 per cent stake in the unit in an IPO held in June, retaining 60 percent of the company. Sources cited in a recent Bloomberg report suggested Spain's Cellnex Telecom was considering a bid for 30 percent of the tower unit, but CEO Marco Patuano later said there had been no contact with the Spanish operator over Inwit. In addition, Telecom Italia took advantage of the board meeting to confirm it had no plans to sell its 67 percent stake in TIM Brasil, saying it "expected to consolidate its long-term presence" in Brazil.
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Category:Telecommunications