French investment firm Ardian is in the early stages of exploring a bid for Italy's INWIT , the country's top telecommunications tower operator with a market value of 11 billion euros ($12 billion), according to people familiar with the matter.
The report helped to drive shares in INWIT to record highs in Milan on Thursday morning, up as much as 4.8%.
Europe has seen infrastructure investors compete for a slice of its largest towers networks, partly because of their stable cash yield and long-term contracts. Deutsche Telekom last year sold 51% of its tower business Funkturm to a consortium of Canada's Brookfield and U.S. private equity firm DigitalBridge.
The shareholding of Vantage Towers is a potential hurdle to a deal as the company is understood to view itself as a “long-term holder” of INWIT, one of the sources said.The sources cautioned that an offer is not certain and asked not to be identified because the deliberations are confidential.Born as a spin-off of TIM’s mobile tower operations, INWIT merged in 2020 with Vodafone’s mast business in Italy to create a national champion in charge of over 23,000 towers.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Francesco Maselli, Influential Italian Auteur, Dies at 92Influential Italian auteur Francesco “Citto” Maselli who worked with Lucia Bosé, Claudia Cardinale, Shelley Winters and Valeria Golino on films that combined his political passion with his bent for…
Read more »
The Best Italian Restaurants in DenverFrom upscale favorites like Olivia and Tavernetta to the family-style servings at Carmine's, these are the top places for Italian fare in the Mile High.
Read more »
Italian electric motorcycle maker to integrate its tech into aviationEnergica announced that it has partnered up with two different companies to integrate its electric motors into small planes and seaplanes.
Read more »
Our Market Project highlights the past, present and future of 9th Street Italian MarketThe Our Market Project is a multi-year public art project transforming and upgrading the vaunted sales corridor.
Read more »
Paramount+ Greenlights Italian Version Of ‘RuPaul’s Drag Race’Italy has become the latest territory to jump on the RuPaul’s Drag Race hype. Paramount+ has greenlit a version in the West European nation shortly after the unveiling of editions of the Worl…
Read more »