Inwit shares rise as top owners arrange financing for buyout bid

Shares of Inwit, Italy's largest mobile tower company, increased by 3% on Monday following a Reuters report that its top shareholders are arranging financing for a potential buyout bid. French private equity firm Ardian, which owns 32% of Inwit, and its investment arm Oak Holdings 1, controlling 39%, are exploring the acquisition of minority shareholders, according to sources close to the matter.

Oak Holdings, supported by GIP, Vodafone, and KKR, is in talks with banks to secure the necessary financing. Abu Dhabi's Mubadala Investment Company is also rumored to be considering a stake in Inwit as part of the plan. However, the discussions are still in progress, with sources cautioning that final decisions have not been made.

Ardian, GIP, Vodafone, KKR, and Mubadala did not respond to requests for comment. Inwit, listed in Milan since 2015, has been under takeover scrutiny since February, when a French media outlet revealed interest from Ardian and investment group Brookfield. The company has faced challenges due to disputes with its two largest customers, Telecom Italia (TIM) and Fastweb, which have initiated contract termination procedures to renegotiate terms more favorably.

As a result, Inwit's market value has dropped by approximately 27% over the past year, reaching $7.1 billion (€6.3 billion) as of Friday's closing.