Telecom Italia seals €1.6B tower unit sale

first_img Telecom Italia bets on long-term renewable energy AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 25 JUN 2020 Telecom Italia struck deals to offload its 33.2 per cent stake in tower unit Inwit for €1.6 billion, in a move designed to cut its debt load.In a statement, Telecom Italia said a consortium led by French investment group Ardian will take a 30.2 per cent stake of the unit, which will be transferred into a new holding company. The two groups opened talks about the deal in May.Upon completion of the deal, the Ardian consortium will hold a 49 per cent stake in the holding company.However, Telecom Italia will continue to control and manage Inwit, together with Vodafone Group.Telecom Italia added it will sell its remaining 3 per cent stake directly to an investment vehicle managed by Canson Capital Partners.Debt reductionTelecom Italia and Vodafone completed a tower merger in March to form Inwit, which left them with a 37.5 per cent stake apiece in the unit.They then sold 4 per cent of their respective holdings for a total of €800 million.Telecom Italia’s latest move will see it use the proceeds cut its debt, which stood at €21.7 billion at the end of March.The operator added completion of the deal is subject to a number of conditions being met by 30 September 2020. Subscribe to our daily newsletter Back Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Home Telecom Italia seals €1.6B tower unit sale Related Las grandes operadoras europeas ponen condiciones a las RAN abiertas Previous ArticleSingapore favours Ericsson, Nokia 5G kitNext ArticleVodafone UK teams with Ford on private 5G play center_img INWITTelecom Italia Telecom Italia confident on hitting annual goals Author Kavit Majithia Tags Español last_img read more

End of the saga: Todor Nedelev announced his future – BG…

first_imgThe star of Botev Plovdiv Todor Nedelev announced excellent news for all fans of the team during today’s press conference before the city derby with Lokomotiv on Sunday. The 27-year-old midfielder has delighted the “yellow and black” community with the news that he will not leave and will continue to defend the club’s team after Trabzonspor, who has been linked to his new team, has withdrawn his“We thank Georgi Samuilov that everything is paid for on time. On Sunday we must show that we are ready for the new season and show our qualities,” he said.“I stay in Botev, I continue to hand out the” yellow-black “T-shirt. Trabzonspor withdrew their offer themselves,” the midfielder revealed.“We have identified the weak qualities of Lokomotiv and I hope with our strong qualities we will finally land them,” added the best player for the past campaign in the efbet League. Follow us anywhere and anytime with the mobile application of You can download it from Google Play, App Store and AppGallery.last_img read more