Telecom Italia (now Tim) and Vodafone are ready to sign an agreement to shortly sell 25% of the Inwit towers to a consortium formed by the French fund Ardian, Credit Agricole Assurances and Canson Capital Partners. According to reports from La Repubblica, after the due diligence and the examination by the Antitrust, the two telephone companies should sign the deed of sale within a few weeks.
The new consortium will invest around 1,7 billion euros, as well as taking on part of the Inwit debt. The new governance rules are also being defined. Telecom will have the right to appoint the CEO of Inwit, who should remain Giovanni Ferigo, while Vodafone will choose the president. The new partners will be present on the board.
It is no coincidence that the Stock Exchange has focused the spotlight on Inwit shares, which have risen since the beginning of the year and rose further yesterday.
