TIM and Vodafone raise EUR800m from Inwit share sale

23 Apr 2020

Telecom Italia (TIM) and Vodafone Italy have sold off 8.6% of their mobile tower joint venture Inwit to institutional investors. The sale raised around EUR800 million (USD867 million), with TIM saying it intends to use its half of the proceeds to reduce leverage. The two firms previously each had a stake of 37.5% in Inwit, and this has been reduced to 33.2%; they continue to hold joint control of the tower company.

Italy, Telecom Italia (TIM), Vodafone Italy