Telecom Italia CEO says new sales procedure may be launched for Inwit
Flavio Cattaneo, the CEO of Telecom Italia (TI) has said that the group could launch a new sales procedure for Inwit, its listed transmission tower subsidiary, Italian language daily Il Sole 24 Ore reported. The item cited Cattaneo as saying that it was possible that the present sales procedure could be canceled and a new auction is launched.
In regard to the present sales procedure, Cattaneo noted that the validity of the two binding offers from EI Towers and a consortium made up of Cellnex and F2i had expired, the report continued. The item cited Cattaneo as noting that the conditions for the present auction could be changed.
An article in Il Messaggero cited Cattaneo as saying that a new deadline for the sales procedure could be fixed for 13 May when the TI board would examine the two bids.
As previously reported, Cellnex [BME: CLNX] and Italian infrastructure fund F2i are bidding for a 45% stake in Inwit, while Italian transmission tower network EI Towers [BIT: EIT] is bidding for a stake just under 30%.
Inwit has a market cap of EUR 2.686bn.
Il Sole 24 Ore, Il Messaggero