Exclusive-INWIT investors line up financing for possible take-private, sources say
Italy's largest mobile telecom towers company, INWIT, is attracting potential buyers amid a contract dispute with its two main customers. French private equity firm Ardian and Oak Holdings 1, a vehicle backed by GIP, Vodafone and KKR, are discussing financing the buyout of minority shareholders, sources say. Ardian holds a 32% stake in INWIT, while Oak Holdings controls 39%.
Abu Dhabi's Mubadala is expected to join the investors, the sources add. Discussions are ongoing and INWIT has declined to comment. The company, listed in Milan since 2015, has seen a 27% drop in market value over the past year to $7.1 billion due to the ongoing contract disputes with Telecom Italia and Fastweb.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
