Key facts
- Ardian and Oak Holdings 1 are arranging financing for a potential take-private deal of INWIT.
- Ardian controls 32% of INWIT, and Oak Holdings controls 39%.
- Oak Holdings 1 is backed by co-investors GIP, Vodafone, and KKR.
- Mubadala is expected to take a stake in INWIT as part of the plan.
- INWIT's market value had fallen about 27% over the past year to $7.1 billion as of Friday's close.
- INWIT is Italy's largest mobile telecom towers company.
Ardian and Oak Holdings 1, the primary shareholders in INWIT, are reportedly arranging financing for a potential take-private transaction of the Italian mobile telecom towers operator. This move comes as INWIT is engaged in a contractual dispute with its two largest clients, Telecom Italia (TIM) and Swisscom's Fastweb, who are seeking to renegotiate their agreements on more favorable terms.
Ardian currently holds a 32% stake in INWIT, while Oak Holdings 1, which is supported by co-investors including GIP, Vodafone, and KKR, controls 39%. Discussions regarding the financing of a potential bid are underway with banks. Abu Dhabi's Mubadala investment firm is also expected to acquire a stake in INWIT as part of the proposed plan. However, sources cautioned that these deliberations are ongoing.
INWIT, which went public in Milan in 2015, has been the subject of takeover speculation since February. The company's market value has decreased by approximately 27% over the past year, closing at $7.1 billion on Friday.