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Advisers: TI's towers stake could draw €970M

May 22, 2015 9:14 AM ETTelecom Italia S.p.A. (TIIAY) StockTIIAYBy: Jason Aycock, SA News Editor
  • The stake that Telecom Italia (NYSE:TI) is listing for its towers unit in an IPO is valued at up to €970M, bank advisers say -- higher than a previously expected €730M.
  • That would value the entire operation -- Infrastrutture Wireless Italiane, known as Inwit -- at more than €2.4B. Valuing the for-sale portion of Inwit between €810M-€970M means a valuation for the unit corresponding to 15-18x 2014 EBITDA of €135M.
  • Inwit operates some 11,500 sites hosting equipment for TI and peers.
  • Previously: Telecom Italia proceeding with IPO for 40% of towers unit (May. 21 2015)

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