Telecom Italia currently owns 60% of telecom infrastructure firm Inwit
A consortium comprising Spanish operator Cellnex and Italian infrastructure fund F2i is the front-runner to buy 45% of Italian telecom tower operator Inwit, controlled by Telecom Italia, Reuters reports.
Earlier this month, Telecom Italia said it received three non-binding offers for the company’s 45% stake in tower unit Inwit. Telecom Italia currently controls 60% of Inwit after selling the other 40% in a listing last year.
According to the report, the Cellnex/F2i consortium offered approximately 4.35 to 4.5 euros per share. Cellnex currently controls 15,000 towers in Spain and Italy.
Other companies submitting offers are Italian telecoms towers operator EI Towers and U.S.-based American Tower.
Telecom Italia previously said it expects to complete a transaction by June 2016. In November 2015, Telecom Italia CEO Marco Patuano said the telco expects to keep a stake of between 15% and 20% in its tower unit.
Inwit, which generated 314 million euros in revenue last year, owns 11,500 mobile towers, which represents approximately 27% of all Italian towers.
Telecom Italia offers fixed, mobile and broadband services. At the end of the third quarter of 2015, the telco counted more than 30 million mobile subscribers.
Viva Kuwait’s Q4 profit down 9% year-over-year
In other EMEA news, Kuwaiti mobile operator Viva reported a net profit of 10.1 million dinars ($33.2 million) in the last quarter of 2016, down 9% compared to a net profit of 11.1 million in the same quarter the previous year.
The telco’s operating revenues for the fourth quarter totaled 72.5 million dinars, which compares to 64.9 million dinars in the year-ago quarter. For the full year of 2015, Viva recorded a net profit of 43 million dinars, climbing 6% compared to the previous year.
In Kuwait, Viva competes with Zain and Ooredoo.
Saudi Telecom currently owns a 26% stake in the Kuwaiti telecom operator. In November 2015, Saudi Telecom submitted an offer to raise its stake in the Kuwaiti company to 100%. Last month, Kuwait’s Capital Markets Authority approved Saudi Telecom Company’s plan to acquire all the shares of Viva. The Kuwaiti government holds 24% of Viva through different governmental agencies, while the rest of the shares are controlled by companies, investment groups, funds and individuals.
