Telecom Italia may sell off Inwit to reduce debt
Telecom Italia [BIT:TIT] (TIM) could sell off Inwit [BIT: INW], its transmission tower subsidiary to reduce debt, Italian language daily Il Sole 24 Ore reported. The report cited an internal strategy paper produced by TIM that also put forward the sale of Sparkle, TIM's overseas fibre optic network, to CdP and either the partial or total sale of Tim Brasil, TIM's mobile phone subsidiary in Brazil. The aim of the divestments would also be to reduce debt.
The article added that the paper also suggests spinning off TIM's network into a newco that would also contain Open Fiber's network.
The item said that TIM would then focus on providing content to fixed-line and mobile retail customers, as well as providing ICT services to state bodies and large companies.
Inwit has a market cap of EUR 3.84bn.