Spanish independent towerco Cellnex (BME:CLNX) is eyeing Inwit (BIT:INW), Telecom Italia (BIT:TIT)’s recently spun-off tower arm.
Spanish independent towerco Cellnex (BME:CLNX) is eyeing Inwit (BIT:INW), Telecom Italia‘s (BIT:TIT) recently spun-off tower arm.
The companies have discussed various options, including the sale of a 30% stake in Inwit, as part of early stage talks, reports Bloomberg.
Cellnex is itself a tower spin-off, comprising the Spanish and Italian tower assets of Spanish infrastructure firm Abertis. A May IPO led by Morgan Stanley, Goldman Sachs and CaixaBank valued the company at over €3.2bn (US$3.6bn).
Earlier this year, Telecom Italia spun off a 40% stake in its tower business, raising €875.3m (US$990.1m) in a transaction run by Banca IMI, Deutsche Bank and Mediobanca.