INWIT Investors Explore Financing for Take-Private Bid

Leading shareholders in INWIT are arranging financing for a potential take-private of Italy's largest mobile telecom towers company, sources said. Ardian controls 32% and Oak Holdings 1 controls 39%. Oak Holdings 1 is backed by GIP, Vodafone and KKR. The investors are discussing financing with banks, and Abu Dhabi's Mubadala is expected to take a stake as part of the plan, sources said. An INWIT spokesperson said the company did not have any information on the matter. INWIT listed in Milan in 2015 and has been the subject of takeover speculation since a French media report in February that Ardian and Brookfield were interested in taking it private. GIP is part of Blackrock. TIM and Swisscom's Fastweb have initiated procedures to terminate their contracts with INWIT to renegotiate on more favourable terms. Market value has fallen about 27% over the past year to $7.1 billion (€6.3 billion), according to LSEG data. No contested facts found. Discussions are ongoing.