Telecom Italia SpA sold its remaining stake in mobile tower operator Infrastrutture Wireless Italiane SpA, picking up the pace in its drive to de-leverage and boosting cash flow beyond its full-year guidance levels.
The carrier sold its indirect holding of about 3% in the tower company known as Inwit to a group led by French private equity firm Ardian SAS, according to a statement Tuesday. The one-time phone monopoly said it will cash in approximately €250 million ($273 million) from the deal, confirming an earlier report by Bloomberg.
Source link
lol
