Start there stock exchange listing of Inwit, the company that encompasses and manages the Telecom Italia transmission towers. In a meeting with the placing banks (B.Imi, Deutsche Bank and Mediobanca, supported by the joint bookrunner Ubs) the company illustrated the reasons which led to unbundle Inwit and start the route to the landing place a Business Square. According to analysts, the overall valuation of the subsidiary could be around 1,8 billion euros.
The indiscretion that would see Telecom Italia ready to place 40% of the subsidiary Inwit, which manages over 11 transmission towers and with shareholders' equity of 1,38 billion euros, had already leaked in recent days.
For Inwit, the market expects one valuation around 13 times the Ebitda which last year was over 140 million euros. For this reason, Inwit's overall valuation would be around 1,8 billion euros, bearing however in mind the 120 million debt burdening the company and which will subsequently be refinanced. If Telecom Italia were to place 40% of the subsidiary, it could aim to raise one figure exceeding 700 million euros.
