Investors who hold large stakes in Italy’s INWIT telecom tower company are arranging financing for a possible deal to take the business private. The talks come as the company faces a dispute with two major customers over contracts. If completed, the deal could change the ownership of one of Italy’s largest networks of mobile communications towers.
French private equity firm Ardian and Oak Holdings 1 are among the investors exploring the proposal. Ardian controls about 32% of INWIT, while Oak Holdings controls around 39%. The latter investment vehicle is backed by several co-investors, including GIP, Vodafone, and KKR. People familiar with the discussions said the investors were speaking with banks about financing a possible offer for minority shareholders.
Abu Dhabi investment firm Mubadala is also expected to take a stake in the company as part of the plan, according to one person familiar with the matter. However, discussions are still ongoing, and the investors have not announced a final agreement. Several of the firms involved declined to comment, while INWIT said it had no information about the reported plan.
INWIT operates mobile tower infrastructure that helps telecom companies deliver wireless services. Such infrastructure is important because mobile networks depend on towers and other equipment to connect users across cities, towns, and rural areas. Tower companies can earn regular income from long-term agreements with telecom operators, but disputes over those agreements can affect their business outlook.
The company has faced contract tensions with Telecom Italia and Swisscom’s Fastweb. Both customers have begun procedures to end their existing agreements as part of efforts to renegotiate terms. A disagreement with major customers can create uncertainty over future revenue and may influence how investors value the company.
INWIT’s market value has fallen over the past year, adding to speculation about a potential takeover. A take-private deal could allow investors to make changes without the same pressure from public markets. However, any proposal would need to account for the company’s customer relationships, financial obligations, and future investment needs.
The talks remain preliminary, so there is no guarantee that a deal will happen. Investors will need to agree on the price, financing, and terms for minority shareholders. The outcome could matter for Italy’s telecom infrastructure sector, where stable tower networks are important to mobile coverage and future upgrades. For now, the reported discussions show that investors see possible value in the business despite the contract dispute.
