TIM confirms INWIT stake sale, expands 5G to 36 new locations

19 Apr 2022

Telecom Italia (TIM) has announced an agreement to offload a further stake in its tower unit, Infrastrutture Wireless Italiane (INWIT). A consortium led by investment firm Ardian will acquire an additional 41% stake in holding company Daphne 3, taking its overall interest to 90%. Daphne 3 controls a 30.2% stake in INWIT. TIM will receive around EUR1.3 billion (USD1.4 billion), in addition to the repayment of a loan of approximately EUR200 million which was granted by TIM to the Ardian consortium at the time of the initial acquisition in 2020. INWIT owns roughly 22,000 tower sites across Italy.

Meanwhile, TIM has reported the launch of 5G services in another 36 towns and tourist sites in Italy. Coverage has been added in towns such as Salerno, Bolzano, Caserta and Rovigo, plus tourist destinations like Rimini and Sirmione. The operator is aiming to cover the whole of Italy with 5G by end-2025.