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EI Towers preparing EUR 860 mln Inwit bid - report

2015-11-10 11:53:00| Telecompaper Headlines

(Telecompaper) 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.

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Category:Telecommunications

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