Telecom Italia receives 3 bids for tower unit Inwit – report - Mobile World Live

Telecom Italia receives 3 bids for tower unit Inwit – report

11 JAN 2016

Telecom Italia reportedly received three non-binding offers for its 45 per cent stake in tower unit Inwit, and expects to close a sale in June.

Spain’s Cellnex, long rumoured to be interested in the stake, launched a bid in collaboration with infrastructure fund F2i, while Ei Towers and American Tower also submitted offers, reports Italian daily La Stampa.

Telecom Italia, which sold a 40 per cent in the tower firm for a reported €875 million in an IPO last year, does not expect a deal to go through until the summer.

The IPO gave the entire business a market value of approximately €2.4 billion.

Telecom Italia set a 18 December deadline for offers after launching the sale process, and all three parties involved were linked to a possible bid last month.

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

Cellnex, which actually distanced itself from a possible bid for Inwit in September, was also floated by parent company Abertis for approximately €4 billion last year, as part of a growing trend across Europe to spin off tower infrastructure.

Author

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 >>

Read more

Related

Tags