TIM and Ardian (through Impulse I, a consortium of institutional investors led by Ardian) finalized the agreement for the sale of TIM’s residual 10% stake in the share capital of the holding company Daphne 3 S.p.A. (“Daphne 3”), which holds 30.8% of the share capital of Infrastrutture Wireless Italiane (“INWIT”).
The transaction, the signing of which was announced to the market on 13 August 2024, is based on a €10.43 INWIT share price valuation and, taking into account the existing Daphne 3 net debt, translates into approximately €250 million of proceeds to TIM, not included in the 2024 leverage organic guidance.
The transaction was completed in compliance with Antitrust and Golden Power regulations.
Rome, 29 November 2024
