TIM nears agreement on Inwit stake sale

Telecom Italia (TIM) is reportedly close to securing a deal to sell just under half of its 33.2% stake in tower firm Inwit to a consortium involving private equity firms Ardian and Canson Capital Partners. Initial reports from Reuters valued the deal at around EUR1.5 billion (USD1.7 billion), though the valuation was removed from later versions of the story. Inwit, which manages the tower networks of TIM and Vodafone Italy, is currently under joint control of the two cellcos.