Italy's TIM, Vodafone will each have 37.5 stake in tower company - sources

FILE PHOTO: Telecom Italia's logo for the TIM brand is seen on building roof downtown Milan, Italy, May 20, 2016. REUTERS/Stefano Rellandini - Copyright Stefano Rellandini(Reuters)

By Reuters

Published on 26/07/2019 - 15:34•Updated 26/04/2024 - 13:00

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MILAN (Reuters) - Italy's biggest phone group Telecom Italia (TIM) and rival Vodafone agreed a deal to merge their mobile masts infrastructure in Italy, two sources close to the matter said on Friday.

Under the agreement, Vodafone and Telecom Italia will each have a 37.5 stake in Milan-listed masts group INWIT, which is currently 60 percent owned by TIM, the sources added.