Key facts
- Ardian and Oak Holdings 1 are exploring a potential take-private deal for INWIT.
- Ardian controls 32% of INWIT, and Oak Holdings controls 39%.
- Mubadala is expected to take a stake in INWIT as part of the plan.
- INWIT's market value has fallen about 27% over the past year to $7.1 billion.
- INWIT is involved in a dispute with its main customers, Telecom Italia and Fastweb.
Leading shareholders in Italy's largest mobile telecom towers company, INWIT, are arranging financing for a potential take-private deal, according to sources familiar with the matter. French private equity firm Ardian and investment vehicle Oak Holdings 1, which is backed by co-investors GIP, Vodafone, and KKR, are exploring a bid to buy out minority shareholders.
Ardian currently controls 32% of INWIT, while Oak Holdings controls 39%. The investors are in discussions with banks regarding the financing of the bid. Mubadala, an investment firm based in Abu Dhabi, is also expected to acquire a stake in INWIT as part of the plan. However, deliberations are ongoing, and the parties involved declined to comment.
The potential deal comes amid a contractual dispute between INWIT and its two main customers, Telecom Italia (TIM) and Swisscom's Fastweb. Both customers have initiated procedures to terminate their contracts to renegotiate them on more favorable terms. INWIT's market value has decreased by approximately 27% over the past year, reaching $7.1 billion as of Friday's close.