TIM, Impulse I (a consortium led by Ardian) and Daphne 3 have reached an agreement for the sale of TIM’s remaining 10% stake in the share capital of the holding company Daphne 3, which holds 29.9% of the share capital of Infrastrutture Wireless Italiane (“INWIT”)
The agreement is based on a valuation of INWIT share price of €10.43 and corresponds to proceeds to TIM, not included in the 2024 guidance, of approximately EUR 250 million, taking into account the existing net debt at Daphne 3 level. Terms and conditions of the transaction are in line with the practice of public M&A deals of comparable nature, including certain customary protections applicable after signing.
The closing of the transaction is subject to certain conditions and is expected to take place in the 4th quarter of 2024.
Rome, 13 August 2024
