- Following along a string of asset-unloading, Telecom Italia (NYSE:TI) is planning an IPO of its Inwit wireless-tower unit that could raise €730M (about $785M), Bloomberg reports.
- Unit chief Oscar Cicchetti met with i-bankers at Banca IMI, Mediobanca, Deutsche Bank and UBS on Thursday, sources said. Inwit owns about 11,500 sites.
- The move would be of a piece with similar planning at Abertis and Telefonica (which is looking at a sale of its German towers).
- If TI's towers unit sells 40% of its business on the Milan exchange it would be valued at €1.8B.