INWIT Investors Line Up Financing for Possible Take-Private, Sources Say

3-line summary

• Major shareholders of INWIT, Italy's largest mobile tower company, are lining up financing in case they move to take the company private, two sources told Reuters, as reported by Investing.com. The talks are at an early stage, the sources cautioned.
• French private equity firm Ardian holds 32% of INWIT, while Oak Holdings 1 — whose co-investors include BlackRock's GIP, Vodafone and KKR — holds 39%; Ardian and Oak Holdings are said to be weighing a buyout of minority shareholders. An INWIT spokesperson said the company has no information on the matter.
• The deliberations come as INWIT faces contract disputes with two major customers, Telecom Italia (TIM) and Swisscom's Fastweb, both of which have moved to terminate and renegotiate their agreements. INWIT's market value has fallen about 27% over the past year to $7.1 billion as of Friday's close, according to LSEG data.

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