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TIM sells Inwit stakes to Ardian and Canson for EUR 1.6 bln

2020-06-25 08:59:00| Telecompaper Headlines

(Telecompaper) Telecom Italia (TIM) has announced the sale of direct and indirect stakes in mobile towers group Inwit to a consortium led by French private equity firm Ardian, confirming earlier reports. Under the deal, TIM said the Ardian consortium is acquiring 49 percent of a newly-formed holding company where it plans to transfer a 30.2 percent Inwit stake. TIM has also agreed to sell an up to 3 percent direct Inwit stake to a vehicle managed by Canson Capital Partners, meaning the operator will cash in a total of EUR 1.6 billion from the transactions.

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