Wind drops network sale

8 Sep 2008

The Italian telco Wind has postponed the planned sale of its network of 18,000 telecommunications towers which it operates in conjunction with cellular provider 3 Italia. The firm has blamed negative market conditions for the decision to halt the sale, which had been valued at between EUR1.5 billion and EUR2 billion (USD2.1 billion-USD2.8 billion). ‘We still believe the deal makes sense from an industrial point of view, but from a financial point of view it might not be the right moment,’ Dow Jones quotes Wind CEO Luigi Gubitosi as saying.