Thursday , 23 May 2019
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EI Towers preparing EUR 860 mln Inwit bid – report

EI Towers preparing EUR 860 mln Inwit bid – report

Italian tower operator EI Towers, controlled by commercial broadcaster Mediaset, is preparing a EUR 860 million bid to acquire a stake in Telecom Italia’s mobile-phone tower unit Inwit, according to unnamed sources cited by Corriere della Sera. Previous reports have indicated that Telecom Italia has appointed Deutsche Bank to accelerate the sale of a 30-40 percent stake in Inwit, which operates some 11,500 sites across Italy. In September, Telecom Italia’s board gave CEO Marco Patuano a mandate to explore the sale of Inwit, whose share value has risen sharply since Telecom Italia raised around EUR 780 million in June from an IPO of a 40 percent stake in the company.

Cellnex Telecom, the recently rebranded telecoms subsidiary of Spanish infrastructure company Abertis, is also said to be interested in bidding for the Inwit stake, and may team up with Italian infrastructure fund F2i to increase its chances of success.

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