May 21, 2015 / 5:55 AM / 3 years ago

Telecom Italia says to sell 40 percent of tower unit in IPO

People walk past a Telecom Italia phone booth in Rome August 28, 2014. REUTERS/Max Rossi

MILAN (Reuters) - Telecom Italia (TLIT.MI) said on Thursday it would sell up to 40 percent of its Infrastrutture Wireless Italiane (INWIT) tower unit in an initial public offering on the Milan bourse.

The Italian telecoms group said in a statement it was awaiting a green light from market watchdog Consob and the Italian stock exchange.

INWIT operates 11,500 sites that host radio transmission equipment for the mobile phone networks of Telecom Italia and other operators.

Reporting by Valentina Za; Editing by Shri Navaratnam

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