Wind sells 90% of mobile tower unit to Abertis for EUR693m

2 Mar 2015

Italian fixed and mobile operator Wind Telecomunicazioni has reached an agreement to sell 90% of its ‘Galata’ cellular tower unit to Spanish infrastructure firm Abertis for EUR693 million (USD776 million). Wind will retain a 10% interest in the unit, which was established last month in preparation for the sale. Galata controls 7,377 mobile towers across Italy and it has signed an agreement to lease the infrastructure to Wind for 15 years. Proceeds from the transaction will be utilized by Wind to repay debt, its owner Vimpelcom said in a statement.