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TIM prepares to close INWIT stake sale

2 Aug 2022

Telecom Italia (TIM) says all conditions have been met to allow it to complete the sale of an indirect stake in Italian tower company INWIT. Under an agreement signed on 14 April a consortium led by investment firm Ardian is to acquire a 41% interest in Daphne 3, a holding company which owns 30.2% of INWIT, for approximately EUR1.3 billion (USD1.33 billion), in addition to the repayment of a loan of approximately EUR200 million.

The deal will reduce TIM’s stake in Daphne 3 to 10%, while the Ardian group will increase its holding to 90%. It will also lead to the termination of a shareholders’ agreement between INWIT investors TIM, Daphne 3, Vodafone Europe and Central Tower Holding Company.

Italy, Infrastrutture Wireless Italiane (INWIT), Telecom Italia (TIM), Telecom Italia Group (TIM Group)

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