Telecom Italia (TI) is reportedly looking at launching the sales process for about 8,000 local mobile telecoms towers in September.
CEO Marco Patuano has held talks with banks in recent weeks about setting up a separate company to sell the towers, worth…
Telecom Italia (TI) is reportedly looking at launching the sales process for about 8,000 local mobile telecoms towers in September.
CEO Marco Patuano has held talks with banks in recent weeks about setting up a separate company to sell the towers, worth about €1bn (US$1.34bn), local newspaper Il Sole 24 Ore reported citing sources close to the Italian incumbent.
The new company could be listed on the stock exchange, the article stated, noting that other reports have suggested a 50% stake may be floated.
TI declined to comment on the report.
Last November, the Milan-based telco revealed it would conduct valuations of its towers in Italy and Brazil as part of broader measures aimed at cutting debt and generally strengthening its financial position.
Italian towerco EI Towers and infrastructure fund F2i as well as Spain’s Abertis Infraestructuras and American Tower have been named as potential bidders. Abertis agreed to buy TowerCo, which operates mobile telecoms towers on Italian toll roads, in May for €94.6m (US$129.7m).
TelecomFinance understands that Deutsche Bank is advising TI on the sale of its Italian towers, while local media have reported that Banca IMI has also taken a role.
The telco has reportedly hired Morgan Stanley to advise it on the sale of towers in Brazil.
Separately, VimpelCom has also looked at selling towers belonging to its Italian unit Wind, which are reportedly valued at about €500m.
