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TIM, Vodafone sell joint 8% stake in Inwit towers unit for EUR 800 mln

2020-04-23 08:57:00| Telecompaper Headlines

(Telecompaper) Telecom Italia (TIM) and Vodafone Italia have sold an 8 percent stake in their jointly-owned towers company Inwit for a total of around EUR 800 million with a view to reducing debt. In separate statements, TIM and Vodafone each confirmed that they successfully completed the sale of 41.7 million shares of Inwit, equal to around 4.3 percent of the share capital, at a price of EUR 9.60 per share, resulting in gross proceeds to each company of around EUR 400 million.

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Category:Telecommunications

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