Tim, agreement with Daphne 3 and Ardian: the remaining 10% of Inwit sold
Tim, Impulse I (consortium led by Ardian) And Daphne 3 have reached an agreement for the sale of the residual 10% stake held by Tim in the share capital of the holding company Daphne 3, which holds 29.9% of the share capital of Italian Wireless Infrastructures (Inwit). This was communicated in a note.
The agreement, it says, is based on an evaluation of the shares Invite equal to 10.43 euros and involves for Tim an additional collection compared to the 2024 guidance of approximately 250 million euros, taking into account the existing net debt at the level of Daphne 3.
The terms and conditions are in line with the standard trading practices BUT similar, including certain safeguards applicable between the signing of the agreement and the closing. The closing of the transaction, the note concludes, is subject to certain conditions and is expected to occur in the fourth quarter of 2024.
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