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Italy's INWIT not looking at M&A now, will analyze oppurtunities

Fri, 31st Jul 2020 12:32

MILAN, July 31 (Reuters) - INWIT is not looking at
any merger and acquisition opportunities at the moment and will
be concentrating on its own business for the moment, the head of
Italy's top mobile tower company said on Friday.

"Now we are focused on our own set up. We will start
analyzing deeply any concrete opportunity in 12-18 months,"
Chief Executive Giovanni Ferigo told analysts during a
conference call on the group's first half results.

INWIT, which is jointly controlled by Italy's biggest phone
group Telecom Italia and Vodafone, operates
22,000 mobile towers across Italy.

Ferigo said that under a scheme agreed with the European
antitrust authorities, INWIT will make available part of its
sites to other operators, offering them in the first place to
Iliad and Swisscom's Fastweb, which are both
new entrants in the Italian mobile phone segment.

(Reporting by Elvira Pollina; editing by James Mackenzie)

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