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Bloomberg: Telecom Italia planning $785M IPO for cell-tower unit

Apr. 17, 2015 10:06 AM ETTelecom Italia S.p.A. (TIIAY) StockTIIAYBy: Jason Aycock, SA News Editor
  • 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.

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