Major Shareholders Explore Take-Private Deal for INWIT
Ardian and Oak Holdings 1 are arranging financing to acquire minority shares of INWIT following a 27% drop in the company's market value.
Major shareholders of Infrastrutture Wireless Italiane (INWIT), Italy's largest mobile telecom towers operator, are arranging financing for a potential take-private deal to acquire the company's minority shareholders. French private equity firm Ardian, which holds a 32% stake, and Oak Holdings 1, which holds 39% and is backed by Global Infrastructure Partners, Vodafone, and KKR, are exploring the bid. Reports indicate that Abu Dhabi-based investment firm Mubadala may acquire a stake as part of the transaction.
The potential buyout follows a 27% decline in the market capitalization of INWIT over the past year, bringing its value to approximately €6.3 billion ($7.1 billion). The company is currently facing commercial instability as its two largest customers, Telecom Italia (TIM) and Swisscom's Fastweb, have initiated procedures to terminate their contracts to renegotiate more favorable terms.
Discussions remain preliminary. The involved investment firms and INWIT have declined to comment or stated they have no information on the matter.
