Offers for cell tower company Inwit from Cellnex/F2i and EI Towers
Telecom Italia is evaluating two binding offers for the company’s 45% stake in cell tower holding unit Inwit. The European operator said the offers were made by a consortium comprising Spanish operator Cellnex and Italian infrastructure fund F2i and Italian telecom tower operator EI Towers. Telecom Italia said the company’s board of directors instructed management to examine the two offers.
Telecom Italia did not provide further details about the value of the offers. However, according to previous reports, the Cellnex/F2i consortium was planning to offer 5 euros ($5.60) per share for a 45% stake in the company. Cellnex currently controls 15,000 towers in Spain and Italy. Telecom Italia currently controls 60% of the tower unit after selling the other 40% in a listing last year.
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.
American Tower acquired 1,350 towers in Tanzania
In other EMEA news, U.S. tower operator American Tower entered into an agreement with Indian telecom operator Bharti Airtel to acquire 1,350 telecoms towers in Tanzania.
The agreement also stipulates American Tower may acquire up to approximately 100 additional sites currently in development. The Indian firm will be the anchor tenant on the portfolio under a lease with a 10-year initial term.
“The proposed transaction is a continuation of our stated philosophy of divesting passive infrastructure assets and promoting sharing of towers to enhance operational efficiencies that will further the overall growth of telecom services,” said Bharti Airtel Africa CEO Christian de Faria.
American Tower said the transaction, which is subject to regulatory approvals, is expected to close during the first half of this year.
