Sawiris plans EUR2bn Wind-fall

18 May 2006

The owner of Italy’s largest alternative telco Wind is planning a EUR2 billion IPO for later this year or early 2007. Wind is controlled by Weather Investments, which is itself owned by Egyptian businessman Naguib Sawiris. He told Reuters: “Two billion is the figure that we are aiming to raise with the operation and the free float will depend on the valuation that emerges.” Wind had around 13.5 million cellular subscribers and a 19% share of Italy’s mobile market at the end of 2005.

Italy, WINDTRE (incl. Wind and 3 Italia)