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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Infrastrutture Wireless Italiane SpA    INW   IT0005090300

INFRASTRUTTURE WIRELESS ITALIANE SPA

(INW)
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Telecom Italia and Vodafone to sign deal to merge towers in Italy by summer end

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05/15/2019 | 02:12pm EDT
Different types of 4G, 5G and data radio relay antennas for mobile phone networks are pictured on a relay mast operated by Vodafone in Berlin

MILAN (Reuters) - A deal to merge Vodafone's tower infrastructure in Italy into INWIT, the mast group 60 percent owned by Telecom Italia (TIM), will be signed by the summer, INWIT's Chief Executive Giovanni Ferigo said on Wednesday.

The deal is part of a three-year strategy plan ironed out earlier this year by TIM CEO Luigi Gubitosi aimed at reviving Italy’s biggest phone group which is saddled with more than 25 billion euros (£21.79 billion) of debt.

TIM and Vodafone entered into an exclusivity agreement in February to evaluate combining their 22,000 telecom towers in Italy into a single entity.

The deal will also include a partnership to enable faster deployment of fifth-generation mobile phone services over a wider geographic area and at a lower cost.

"A signing is expected during the summer," Ferigo told an analyst call after INWIT's first quarter financial results.

The combining of Vodafone's towers into INWIT would leave TIM and Vodafone with equal shareholdings and governance rights in INWIT and ensure there is no obligation for either to launch a tender offer for INWIT’s remaining shares.

(Reporting by Elvira Pollina; Editing by Kirsten Donovan)

Stocks mentioned in the article
ChangeLast1st jan.
INFRASTRUTTURE WIRELESS ITALIANE SPA -1.71% 8.04 End-of-day quote.34.79%
TELECOM ITALIA -0.95% 0.4381 End-of-day quote.-9.35%
VODAFONE GROUP 2.25% 126.1 Delayed Quote.-17.53%
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Financials (€)
Sales 2019 398 M
EBIT 2019 215 M
Net income 2019 149 M
Debt 2019 384 M
Yield 2019 2,76%
P/E ratio 2019 32,30
P/E ratio 2020 29,49
EV / Sales 2019 13,1x
EV / Sales 2020 14,8x
Capitalization 4 824 M
Chart INFRASTRUTTURE WIRELESS ITALIANE SPA
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Infrastrutture Wireless Italiane SpA Technical Analysis Chart | MarketScreener
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Technical analysis trends INFRASTRUTTURE WIRELESS IT
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 8,32 €
Spread / Average Target 3,5%
EPS Revisions
Managers
NameTitle
Giovanni Ferigo Chief Executive Officer & Director
Stefano Siragusa Chairman
Emilio Maratea Head-Business Management & Operations
Rafael Giorgio Perrino Head-Finance & Administration
Filomena Passeggio Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
INFRASTRUTTURE WIRELESS ITALIANE SPA34.79%5 404
ZAYO GROUP HOLDINGS INC42.82%7 685
BHARTI INFRATEL7.16%7 399
SARANA MENARA NUSANTARA TBK PT--.--%2 410
CHORUS LTD--.--%1 624
TOWER BERSAMA INFRASTRUCTURE TBK PT--.--%1 044