FX.co ★ Telecom Italia To Sell Residual Stake In Infrastrutture Wireless Italiane

Telecom Italia SpA (TIAOF.PK, TI) has announced the signing of an agreement with Ardian and Daphne 3 to divest its remaining stake in Infrastrutture Wireless Italiane (INWIT). The transaction involves the sale of its last 10% interest in Daphne 3, which itself owns 29.9% of INWIT.

This agreement, based on an INWIT share valuation of €10.43, is anticipated to generate approximately €250 million for Telecom Italia, a sum that is not accounted for in the company's 2024 guidance. The transaction is slated for completion in the fourth quarter of 2024.