Telecom Italia To Proceed With IPO Of Up To 40% Of INWIT - Quick Facts

(RTTNews) - Telecom Italia (TIAOF.PK, TI) announced its intention to proceed with an Initial Public Offering of up to 40% of the ordinary shares in the company's fully owned telecom infrastructure subsidiary, Infrastrutture Wireless Italiane S.p.A., or INWIT. The offering will consist entirely of a secondary offering of INWIT shares by Telecom Italia, who will receive all of the proceeds of the offering.

INWIT owns, operates and leases wireless infrastructure, or Towers, and generates revenues from the lease of the space and services on such towers in particular to mobile telecom operators.