Telecom Italia open to Inwit options - report

Telecom Italia open to options on Inwit tower business – report

21 SEP 2015

Telecom Italia (TI) is seeing “strong interest” in its tower unit Inwit, with the company open to all options over the future of the business.

Inwit operates approximately 11,500 sites and hosts radio transmission equipment for mobile networks.

According to Reuters, CEO Marco Patuano said at an event TI had “built a company that is financially very light to keep our hands free and able to move in all directions”.

Despite the interest, Patuano said there was no still no concrete offers on the table for the business, with its future set to be discussed at a board meeting this week.

The operator raised approximately €875 million after selling a 40 per cent stake in the unit in an IPO in June this year, giving the entire business a market value of approximately €2.4 billion.

Following the decision to IPO, the company said in the past there are several options for the business, which could include M&A deals with regional rivals to create a European infrastructure business.

Spain’s infrastructure player Cellnex has been rumoured to be interested in Inwit, but the company poured cold water over the speculation last week.

Patuano also said there was no contact with Cellnex over Inwit.

Cellnex was floated by Spanish company Abertis for approximately £4 billion, as part of a growing trend in Europe to spin off tower infrastructure.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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