Cellnex considering Italian move

Spanish mobile tower firm Cellnex could be interested in acquiring a stake in TIM (formerly Telecom Italia)’s own tower unit Infrastrutture Wireless Italiane (INWIT). According to a Bloomberg report, Cellnex, which was spun off from Spain’s Abertis Infraestructuras earlier this year, is eyeing a stake of around 30% in Inwit. Such a move would halve TIM’s 60% interest, with the Italian telco already having raised EUR875.1 million (USD995.3 million) in June with the sale of a 40% stake via an initial public offering (IPO). Inwit controls around 11,500 Italian mobile towers on behalf of TIM.