Telecom Italia Secures Funding for Mobile Tower Merger -Reuters

Date : 07/02/2019 @ 10:10PM
Source : Dow Jones News
Stock : Telecom Italia (TIT)
Quote : 0.5441  0.0028 (0.52%) @ 12:35AM
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Telecom Italia Secures Funding for Mobile Tower Merger -Reuters

Telecom Italia (BIT:TIT)
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--Telecom Italia SpA (TIT.MI) has secured funding of up to 2.5 billion euros ($2.83 billion) from a group of banks to help its Inwit unit merge its towers with those of Vodafone Group PLC (VOD.LN), Reuters reports, citing people familiar with the matter.

--The Italian telecoms operator--which owns 60% of Inwit--and Vodafone agreed in February to look into combining their 22,000 telecoms towers in Italy into a single unit, Reuters says, adding that the two companies are expected to approve a tower merger in August.


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(END) Dow Jones Newswires

July 02, 2019 09:55 ET (13:55 GMT)

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