UPDATE 1-Telecom Italia paves way for sale of Inwit

viernes 25 de septiembre de 2015 15:56 GYT
 

(Adds details on Inwit, investment plans)

MILAN, Sept 25 (Reuters) - Telecom Italia on Friday opened the way for the sale of its listed phone masts group Inwit but also said it was not planning to sell its Brazilian mobile network operator Tim Participacoes .

The board of the Italian phone company has given a mandate to the CEO to explore options to extract value from Inwit , the company said in a statement.

Earlier this week Chief Executive Marco Patuano had said all options were open regarding Inwit's future, signalling a change of strategy and paving the way for a possible bid for it.

Telecom Italia, which owns 60 percent of Inwit after listing a 40 percent stake in June, had until then pointed at an active role for its masts unit in its sector.

Spanish telecoms masts operator Cellnex and Italian infrastructure fund F2i are interested in Inwit, several sources had said on Tuesday.

Meanwhile Telecom Italia said investments planned by Tim Participacoes for the period 2015-2017, worth more than 14 billion real ($3.5 billion), were confirmed on Friday, adding that it aimed to consolidate its long-term presence in the country. The Italian company owns 67 percent of Tim Participacoes. ($1 = 3.9688 Brazilian reais) (Reporting by Francesca Landini; Editing by Greg Mahlich)