TIM Sold Inwit Stake for €250 Million, Extends Sparkle Talks

Telecom Italia completed a sale of its share in tower company Inwit for around €250 million to a consortium of investors. The operator separately announced a deadline extension for negotiations to sell the wholesale unit Sparkle.

The sale of TIM’s 10% stake in a holding company which owns a 30.8% share of Inwit to an Ardian-led investment group was announced in August, with the deal closing on schedule. Inwit owns towers previously spun off from the operator alongside equivalent assets formerly the property of Vodafone Italy.

In a separate statement, TIM announced an extension to negotiations with Italy’s Ministry of Economy and Finance and infrastructure player Retelit to sell its Sparkle wholesale unit. The deadline for the receipt of a binding offer for the business was 30 November but has now been moved to 16 December. TIM noted the talks were at an advanced state.