MILAN, Nov 18 (Reuters) - INWIT, the mast group controlled
by Telecom Italia, said on Monday it would pay a
special dividend of 0.5936 euros per share once a merger of its
assets with the Italian mobile towers of Vodafone is
completed.
Telecom Italia (TIM) and Vodafone agreed earlier this year
to merge their mobile tower infrastructures and to jointly roll
out 5G in Italy.
In a statement on Monday INWIT said its board had approved
the merger plan and had set a date of December 19 for a
shareholder meeting to sign off on the deal.
It said the special dividend would total 570 million euros
($631 million).
A precondition for the merger is obtaining authorisation
from the European Commission before a long--stop date of 31
October 2020, the company said.
($1 = 0.9029 euros)
(Reporting by Stephen Jewkes, editing by Andrea Mandala)
Vodafone (VOD)
