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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Inwit S.p.A.    INW   IT0005090300

INWIT S.P.A.

(INW)
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Exclusive: Vodafone, Telecom Italia offer rivals access to some sites to ease EU concerns ? document

02/18/2020 | 11:57am EST
FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan

Vodafone and Telecom Italia (TIM) have offered to give rivals access to some of their infrastructure for up to nine years to allay EU antitrust concerns over plans to merge their tower units, according to a document seen by Reuters.

The companies announced a plan last July to create Italy's largest mobile towers group through the transfer of Vodafone's Italian mobile masts to INWIT, TIM's 60%-owned subsidiary.

Once the 10 billion euro ($10.8 billion) merger is completed, TIM and Vodafone would each have a 37.5% stake and equal governance rights in the enlarged INWIT.

The deal includes a network sharing agreement and a partnership to roll out 5G infrastructure jointly across Italy.

For the telecoms industry, combining towers or sharing networks to reduce debt and share costs are seen as alternatives to counter EU antitrust regulators' tough line on mergers that reduce the number of players in a market.

Under Vodafone and TIM's proposal, INWIT would make available around 630 sites each year in towns with more than 35,000 people, allowing rivals to provide current and future mobile and fixed telephony services, said the internal EU paper.

The number of sites available will gradually decrease to just below 400 per year during the fifth year of the companies' proposal, which would be valid for eight years.

The number of sites freed up for rivals over the eight-year period totals 4,000.

TIM and Telecom Italia both declined to comment.

The companies submitted their offer on Friday. The EU competition enforcer extended on Monday its deadline for a decision on the deal to March 6 from Feb. 21.

The Commission will now seek feedback from the companies' rivals and from consumers before deciding whether to accept the offer, demand further measures or open a full-scale investigation.

(Reporting by Foo Yun Chee; Additional reporting by Elvira Pollina in MILAN; Editing by Gabriela Baczynska and Jan Harvey)

By Foo Yun Chee


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ACCESS CO., LTD. -0.26% 755 End-of-day quote.2.72%
AT HOME GROUP INC. -3.33% 23.12 Delayed Quote.51.49%
INWIT S.P.A. -0.49% 9.255 Delayed Quote.-7.40%
NEXT PLC 0.13% 7978 Delayed Quote.12.39%
SEEK LIMITED -0.73% 27.1 End-of-day quote.-5.01%
TELECOM ITALIA S.P.A. -1.56% 0.3726 Delayed Quote.-1.17%
VODAFONE GROUP PLC -2.05% 126.64 Delayed Quote.6.47%
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More news
Financials
Sales 2020 676 M 819 M 819 M
Net income 2020 163 M 198 M 198 M
Net Debt 2020 3 638 M 4 410 M 4 410 M
P/E ratio 2020 53,0x
Yield 2020 3,28%
Capitalization 8 872 M 10 776 M 10 754 M
EV / Sales 2020 18,5x
EV / Sales 2021 16,0x
Nbr of Employees 198
Free-Float 33,7%
Chart INWIT S.P.A.
Duration : Period :
Inwit S.p.A. Technical Analysis Chart | INW | IT0005090300 | MarketScreener
Technical analysis trends INWIT S.P.A.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 11,98 €
Last Close Price 9,24 €
Spread / Highest target 47,2%
Spread / Average Target 29,6%
Spread / Lowest Target 9,31%
EPS Revisions
Managers and Directors
NameTitle
Giovanni Ferigo Chief Executive Officer, GM & Director
Emanuele Tournon Chairman
Elisa Patrizi Head-Maintenance, Technology & Operations
Emanuela Martinelli Head-Finance & Investor Relations
Filomena Passeggio Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
INWIT S.P.A.-7.40%10 776
BHARTI INFRATEL LIMITED11.22%9 425
PT SARANA MENARA NUSANTARA TBK-1.56%3 369
CHORUS LIMITED2.15%2 605
PT TOWER BERSAMA INFRASTRUCTURE TBK3.07%2 586
ERICSSON NIKOLA TESLA D.D.1.33%325