Vodafone Group, Telecom Italia Each Raise EUR400 Million Through Sale of Inwit Shares
23 Abril 2020 - 1:57AM
Noticias Dow Jones
By Adria Calatayud
Vodafone Group PLC and Telecom Italia SpA each raised 400
million euros ($433.7 million) through the sale of shares in
Infrastrutture Wireless Italiane SpA, the companies said
Thursday.
Vodafone and Telecom Italia each sold 41.7 million shares in
Inwit at EUR9.60 a share, cutting their respective stakes by 4.3%,
the companies said. As a result, Vodafone and Telecom Italia's
shareholding in Inwit will be reduced to 33.2% from 37.5%
previously and Inwit's free float will increase by over one third,
they said.
Vodafone and Telecom Italia said they intend to retain joint
control and to hold an equal stake in the share capital of
Inwit.
Both Vodafone and Telecom Italia said they plan to use the
proceeds from the share sales to reduce debt.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 23, 2020 02:42 ET (06:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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