Telecom Italia (TI)’s cellular tower unit Infrastrutture Wireless Italiane (Inwit) has issued an application to list its shares on the Milan bourse, Reuters reports. TI is looking to retain a majority stake in Inwit, with proceeds from the sale earmarked for a debt reduction plan. The sale is expected to take place this summer. Inwit operates around 11,500 mobile towers across Italy on behalf of TI.
Separately, TI’s chairman Giuseppe Recchi has played down speculation linking the Italian operator as a possible partner for Orange Group of France. Although Orange’s chief Stephane Richard said a tie-up with TI would be ‘very attractive’, Reuters reports Recchi as saying that there is ‘nothing on the table’ and that his firm is focused on its operations in Italy and Brazil.