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Abertis acquires Wind's Italian tower asset for EUR 693 mln
2015-03-02 08:26:00| Telecompaper Headlines
(Telecompaper) Spanish infrastructure company Abertis has announced the acquisition of 90 percent of the shares of the mobile tower unit of Italian operator Wind for EUR 693 million. The Italian subsidiary of Russia's Vimpelcom will retain a ten percent stake in Galata, the unit it set up last month consisting of 7,377 towers plus employees and related contracts. Wind confirmed that the transaction is expected to close within the first quarter of 2015, and that proceeds from the sale will used by the operator to further reduce its debts. In addition, Wind will enter into a 15-year tower services agreement with Galata for the provision of a broad range of services on the mobile tower sites as well as on sites subsequently built by Galata hosting Wind equipment. Abertis outbid rival offers from Mediaset-controlled EI Towers, Italian investment fund F2i and American Tower to secure Wind's tower asset.
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Category:Telecommunications