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3i Infrastructure plans sale of Wireless Infrastructure Group
Transactions - DECEMBER 9, 2019

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3i Infrastructure plans sale of Wireless Infrastructure Group

by Kali Persall

3i Infrastructure, a subsidiary of 3i Group, is considering the sale of its 93 percent stake in telecom tower operator Wireless Infrastructure Group (WIG), according to Sky News.

The sale could fetch roughly £300 million ($394 million); the value of 3i’s stake in the company.

WIG builds and operates communication towers in rural and suburban areas, along with fiber-based networks, to improve mobile coverage in large buildings and on city streets. The company has more than 2,000 telecom towers, which comprise 7 percent of the U.K. market.

3i has reportedly appointed investment bank Greenhill to find a buyer for WIG, which has received a number of unsolicited approaches regarding a takeover, Sky News reports.

According to 3i, WIG continues to review opportunities to acquire new towers that complement its existing portfolio.

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