MILAN, Sept 25 (Reuters) - Telecom Italia’s board has given a mandate to the CEO to explore options to extract value from its telecom tower group Inwit, the Italian phone company said on Friday, paving the way for the sale of the unit.
In a statement, the company also confirmed planned investments in Argentina and Brazil, two countries considered strategic by the group.
Telecom Italia CEO Marco Patuano said earlier this week 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 owns 60 percent of Inwit after listing a 40 percent stake in June. (Reporting by Francesca Landini; Editing by Mark Trevelyan)