Telecom Italia raises EUR 780 mln from Inwit IPO

News General Italy 18 JUN 2015 Updated: 18 JUN 2015
Telecom Italia raises EUR 780 mln from Inwit IPO

Telecom Italia has announced that the IPO of a 40 percent stake in its tower unit INWIT has successfully closed and will debut on the Milan stock exchange on 22 June. The company priced the shares at EUR 3.65, bringing the total proceeds to EUR 875.3 million if the greenshoe option is fully exercised. After commissions and fees, the net proceeds to the company will be EUR 779.8 million, or EUR 857.8 million if the greenshoe is exercised. 

According to a report in Il Sole24 Ore, the offer was seven times oversubscribed. Around 90 percent of the shares were sold to institutional investors and the remaining 10 percent to retail.

Telecom Italia previously revealed that it will use the revenues raised from the IPO to fund its mobile and fibre-optic broadband network expansion plans. The tower unit currently owns, operates and leases a total of 11,500 mobile phone towers for Telecom Italia and other mobile telecoms operators.
Updates
18 JUN 2015 - Updates with confirmation from company.

Categories:

General

Companies:

Telecom Italia

Countries:

Italy

Tags:

Production planning & operations, Network equipment, Financial funding

Related Articles

ITALY 4 FEB 2016

Inwit 9-month revenues up 12% to EUR 239 mln

Telecom Italia's tower unit Infrastrutture Wireless Italiane (Inwit) reported revenues of EUR 239.2 million in the nine months to December 2015, up 12.0 percent on the comparable 2014 figure. On an annualised basis, full-year revenues came to EUR 318.9 million, up from EUR 314.0 million in pro-forma revenues in 2014. Looking ahead, Inwit said it planned to invest over EUR 135 million in Italy over the next three years and expected high-single digit EBITDA annual growth over the 2016-18 period.

ITALY 15 JAN 2016

Telecom Italia delays board meeting until 15 February

Telecom Italia has announced that the subsequent meeting of its board of directors to approve the company's preliminary results for the fourth quarter of 2015 will be delayed until 15 February, rather than 11 February as previously indicated.

ITALY 11 JAN 2016

Telecom Italia to close Inwit sale by June - report 

Telecom Italia has received non-binding offers from Cellnex-F2i, Ei Towers and American Tower for a 45 percent stake in its tower unit Inwit, reports local daily La Stampa. Spain's Cellnex Telecom issued a joint bid with Italian infrastructure fund F2i for the stake in Inwit, which operates some 11,500 sites across Italy. However, Telecom Italia isn't expecting to close a deal until June, added the report. 

ITALY 25 NOV 2015

Telecom Italia wants to retain 15-20% of Inwit - CEO

Telecom Italia is looking to retain a 15-20 percent stake in its mobile-phone tower unit Inwit after it spins off the rest of the company, according to the operator's CEO Marco Patuano. "The aim is to keep a stake that would allow us to appoint a board member. I'd say 15 or 20 percent," said Patuano, according to Reuters. Telecom Italia already raised around EUR 780 million in June from an IPO of a 40 percent stake in Inwit but in September the operator's board gave Patuano a mandate to explore ways of extr

ITALY 9 OCT 2015

Telecom Italia signs up Deutsche Bank for Inwit sale-report

Telecom Italia has appointed Deutsche Bank to accelerate the sale of a EUR 1.6 billion stake in its mobile-phone tower unit Inwit, according to unnamed sources cited by Bloomberg. Last month the company's board gave CEO Marco Patuano a mandate to explore the sale of Inwit, whose share value has risen sharply since Telecom Italia raised around EUR 780 million in June from an IPO of a 40 percent stake in the company. Numerous sources have suggested that Spain's Cellnex Telecom and Italian infrastructure fund

ITALY 29 SEP 2015

RaiWay chairman rules out bid for Inwit

The chairman of Italian tower operator RaiWay has ruled out the possibility of buying a stake in Inwit, saying the shares in Telecom Italia's tower unit have become too expensive in recent weeks. "A year ago, before Inwit's listing, we were looking with some interest at a possible expansion of the telecom towers business, but we have realised that the assets of Inwit and Cellnex are valued at much higher multiples compared to ours," RaiWay chairman Camillo Rossotto told Reuters. Sources had cited RaiWay as

ITALY 29 SEP 2015

Telecom Italia hoping to close Inwit sale this year - report

Telecom Italia is looking to close a sale or merger of its mobile-phone tower unit Inwit by the end of 2015, according to two unnamed sources cited by Reuters. The news comes after the company's board gave CEO Marco Patuano a mandate to explore the sale of Inwit, whose share value has risen sharply since Telecom Italia raised around EUR 780 million in June from an IPO of a 40 percent stake in the company. One of the sources said Telecom Italia was prepared to cede control of Inwit but wanted to keep a minor

ITALY 28 SEP 2015

Telecom Italia to explore sale of tower unit Inwit

Telecom Italia has given its CEO a mandate to explore the sale of its mobile-phone tower unit Inwit, with Spain's Cellnex Telecom and Italian infrastructure fund F2i said to be among the interested bidders. "Telecom Italia will explore opportunities to enhance the value of the Inwit stake," said Telecom Italia in statement released after its board meeting in Rio de Janeiro. Inwit operates some 11,500 sites across Italy and the operator raised around EUR 875 million after selling a 40 per cent stake in the u

ITALY 17 SEP 2015

Cellnex mulling offer for Telecom Italia's Inwit - report

Cellnex Telecom, the recently rebranded telecoms subsidiary of Spanish infrastructure company Abertis, is considering bidding for a stake in Telecom Italia's mobile-phone tower unit Inwit, according to unnamed sources cited by Bloomberg. The discussions are at an early stage but Cellnex may end up acquiring a stake of around 30 percent of Inwit, which owns some 11,500 sites, or about 27 percent of all Italian towers, said the sources. Italian business daily Il Sole 24 Ore recently reported that Telecom Ital

ITALY 5 AUG 2015

Telecom Italia brings fibre service to Lodi

Telecom Italia (TIM) has begun offering its high-speed fibre-optic broadband service in the city of Lodi in the northern Lombardy region. The service has already been activated in around 14,000 households, representing 71 percent of the population, and will reach over 93 percent of inhabitants by the end of the year. Customers in the connected areas will be able to access the internet at speeds of at least 50 Mbps, increasing to up to 100 Mbps in the future. The operator's fibre optic services are currently

ITALY 5 AUG 2015

Telecom Italia launches fibre service in Bergamo towns

Telecom Italia (TIM) has begun offering a high-speed fibre-optic broadband service in two more towns in the Bergamo province. The service has already been activated in the majority of households in the towns of Treviglio and Scanzorosciate, with the operator aiming to extend the coverage to over 90 percent and 83 percent of the local populations respectively by the end of the year.

ITALY 28 JUL 2015

Inwit announces revenues of EUR 79 mln in Q2

Telecom Italia's newly-established tower unit Infrastrutture Wireless Italiane (Inwit) reported revenues of EUR 78.96 million in the second quarter, with net profit coming in at EUR 21.31 million. The vast majority of the company's revenues – EUR 63.33 million – came from the operation and lease of mobile phone towers for Telecom Italia, 11,500 of which were transferred to Inwit on 01 April. The company's EBITDA came in at EUR 34.95 million, with a margin of 44.3 percent, and its debt stood at EUR 102.48 mi

ITALY 23 JUL 2015

Telecom Italia to bring fibre services to Lecco

Telecom Italia has announced that work is underway to install a new fibre-optic network in the town of Lecco in the northern region of Lombardy. The deployment will involve rolling out over 20 km of fibre optic cables to connect 113 street cabinets, with the company hoping to reach 20,000 households, or 90 percent of the population, by the end of the year. Customers in connected areas will be able to access the internet at speeds of at least 50 Mbps, said Telecom Italia.

ITALY 13 JUL 2015

Telecom Italia launches FTTH in Friuli Venezia Giulia region

Telecom Italia has activated FTTH services in the cities of Udine, Trento and Porderone in the northeastern region of Friuli Venezia Giulia. The launch allows Telecom Italia users in the connected areas to access the internet at download speeds of at least 100 Mbps, potentially rising to 1 Gbps. The company plans to connect 100 Italian cities to its FTTH network by March 2018 and also intends to provide FTTC services to 75 percent of the population by 2017.

ITALY 13 JUL 2015

Telecom Italia brings FTTH to 12 cities in Emilia Romagna

Telecom Italia has activated fibre-to-the-home (FTTH) services in a total of 12 cities in the northern region of Emilia Romagna as part of its new plan to connect 100 Italian cities by March 2018. The service, which offers download speeds of at least 100 Mbps, potentially rising to 1 Gbps, is now available in the region's major cities, including Bologna, Ferrara, Modena, Parma and Reggio Emilia.

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.