June 30, 2016 / 5:16 PM / 2 years ago

Telecom Italia says can take time it needs to decide on INWIT

MILAN, June 30 (Reuters) - Telecom Italia said on Thursday it does not have any liquidity problems and is in a position to take the time it needs to assess how to best create value for its masts subsidiary INWIT.

The Italian phone group issued a statement following comments made earlier on Thursday by the head of Spanish telecoms mast company Cellnex on the lack of progress in the sale of a stake in INWIT launched by Telecom Italia.

Cellnex has teamed up with Italian infrastructure fund F2i in its bid for INWIT, rivaling another offer made by Italy’s EI Towers.

Telecom Italia said its operating cash flow amounted to 2 billion euros last year and its liquidity margin amounted to 10.4 billion euros at the end of March, allowing it to cover financial commitments until 2019. (Reporting by Agnieszka Flak; editing by Francesca Landini)

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