March 13, 2015 / 10:21 PM / 5 years ago

Telecom Italia tower unit files for share listing

MILAN, March 13 (Reuters) - Telecom Italia said on Friday its tower unit Infrastrutture Wireless Italiane (Inwit) had filed with the Italian market regulator to list its shares on the Milan bourse.

In a statement, the Italian telecoms group said it will keep a majority stake in Inwit following an initial public offering which will be coordinated by banks Banca IMI and Deutsche Bank AG.

Last month Telecom Italia, which is seeking to cut debt and fund investments to upgrade its networks in Italy and Brazil, said it planned to list Inwit by the summer in a move that is part of its new business plan.

Inwit will operate 11,500 sites that host radio transmission equipment for the mobile phone networks of Telecom Italia and other operators, it said. (Reporting by Danilo Masoni; Editing by Christian Plumb)

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