June 10, 2020 / 9:45 AM / 22 days ago

Ardian nears deal for Telecom Italia's stake in tower firm INWIT - sources

LONDON/MILAN, June 10 (Reuters) - An investment consortium led by private equity firm Ardian is closing in on a deal to buy a minority stake in Telecom Italia’s mobile tower group INWIT, three sources with knowledge of the matter told Reuters.

The deal, which will see Canson Capital Partners investing alongside Ardian, could be announced as early as next week, the sources said.

Under the agreement, TIM would sell a stake of just under 50% of its existing holding in INWIT for about 1.5 billion euros ($567.85 million), the sources said.

TIM, which owns 33.2% of INWIT, declined to comment.

Ardian and Canson Capital Partners were not immediately available for comment. ($1 = 0.8805 euros) (Reporting by Pamela Barbaglia in London, Elvira Pollina and Elisa Anzolin in Milan, editing by Louise Heavens)

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