ROME (dpa-AFX) - Telecom Italia SpA (TIAOF.PK, TI) said it signed an agreement with Ardian and Daphne 3 to sell the residual stake in Infrastrutture Wireless Italiane or INWIT.
The Italian telecom major agreed to sell its remaining 10% stake in Daphne 3. Daphne 3 holds a 29.9% stake in Infrastrutture Wireless Italiane.
The agreement, based on an INWIT share price valuation of 10.43 euros, is expected to yield about 250 million euros for TIM, an amount not included in the 2024 guidance.
The closing of the transaction is expected to take place in the fourth quarter of 2024.
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