A consortium that includes mobile operators Vodafone Italia and Wind is leading the auction for Italian fibre network owner Metroweb, TelecomFinance has confirmed. The group, which also includes private equity firm Clessidra, has become the frontrunner…
A consortium that includes mobile operators Vodafone Italia and Wind is leading the auction for Italian fibre network owner Metroweb, TelecomFinance has confirmed. The group, which also includes private equity firm Clessidra, has become the frontrunner as the sale process enters its final phase, a source close to the situation said following reports. In total, four binding bids have been placed for the group, which reports value at E430-450m.
It is understood that the other bidders are: Axa, Antin, and a consortium comprising F2i and Intesa Sanpaolo.
“The sale process might be concluded by the summer,” the source added.
Back in March, insurance provider Generali and bank Unicredit were reportedly seeking to invest alongside one of six bidders in the race for Metroweb.
Franco Bernabe, CEO of Italian incumbent operator Telecom Italia, has also told journalists that his company was keeping an eye on the sale.
Metroweb is 76.5% owned by Stirling Square Capital Partners (SSCP) and 23.5% owned by domestic utility A2A.
The company, which declined to comment, reported E42m in EBITDA and revenues of approximately E52m for 2010. This compares to EBITDA and sales of E29.6m and E39m, respectively, for 2006, when SSCP acquired its stake.
Metroweb is advised by Lazard.
