Wind IPO to raise EUR 2 billion

Friday 19 May 2006 | 08:45 CET | News
Naguib Sawaris, head of Orascom and Weather Investments which control Italian operator Wind, expects to list Weather on the stock market late this year or in early 2007, raising around EUR 2.0 billion by selling 20-30 percent of group, Italian media report. He was speaking at a presentation on the company in Milan, where Wind reported over 14 million mobile customers, more than 2.3 million fixed network clients and 2.5 million internet subscribers at the end of March. Wind repeated its targets for EBITDA growth of 8-10 percent and 5 percent growth in revenue from telecom services this year. Wind forecasts investments of EUR 800-870 million and positive cash flow this year, along with strong growth in the mobile telephony sector.

Categories: General
Companies: Wind
Countries: Italy
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