TI says tower unit could be enlarged through merger or acquisition

10 Jun 2015

Telecom Italia (TI) has revealed that it would be open to tie-ups between its mobile tower unit Infrastrutture Wireless Italiane (Inwit) and other European wireless or broadcasting tower businesses to create a regional infrastructure company. TI’s chief executive, Marco Patuano, has told the Financial Times that there are ‘several options on the table’ for Inwit, including acquisitions or a merger with another tower firm such as Cellnex, which was recently spun off from Spanish infrastructure company Abertis. TI is planning to sell off a 40% stake in Inwit via an initial public offer (IPO) later this year, and says it may reduce its interest to below 50% through a secondary share sale. Inwit owns around 11,500 mobile towers across Italy.