TIM and Ardian have finalized an agreement to jointly invest in Italian wireless network tower operator Infrastrutture Wireless Italiane (INWIT). The deal was initially announced in June.
Under the deal, a consortium of institutional investors led by Ardian will take a 49 percent stake in Daphne 3, a newly established holding company controlled by TIM. In addition, TIM has transferred a 30.2 percent stake in the share capital of INWIT to Daphne 3. The value of the transaction for TIM is €1.35 billion ($1.58 billion).
In addition, TIM has sold a 1.2 percent direct stake in INWIT for €109 million ($127 million), to a vehicle managed by Canson Capital Partners (Guernsey) Ltd., which also has an option to purchase the remaining 1.8 percent stake for a price of €161 million ($188 million).
“This investment of great strategic value further demonstrates our commi
