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Hutchison's 3 Italia confirms possible tower sale plan | |
Italy | Created: 18 Jul 2007 |
MILAN (Thomson Financial) - Hutchison Whampoa Ltd unit 3 Italia is working on selling its transmission towers, said CEO Vincenzo Novari, confirming recent reports. Novari said the plan being examined is to first put 3 Italia's transmission towers in a new company alongside the towers belonging to rival mobile company Wind Telecommunicazioni SpA. 'We are working together, making the technical examinations. The plan is first to set up a new company and then offer the structure,' he said, referring to the sale of the combined network. 'I am confident thast by the end of the year we will succeed in closing definitively everything,' he said. The new company, owning the two networks, will be worth 2 bln eur, he said. Reports today said Mediaset SpA and Atlantia SpA, formerly Autostrade, could form a consortium to bid for the towers, while Texas Pacific Group could link with Italy's DMT for a rival bid. |
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Source: Forbes.com, 17 Jul 2007 |
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