MILAN (Reuters) – A group of banks is set to lend Telecom Italia unit INWIT up to 2.5 billion euros ($2.8 billion) to help it merge its towers with those of Vodafone, two sources said.
Telecom Italia (TIM), which controls 60% of INWIT, agreed with Vodafone in February to study the idea of combining their 22,000 telecom masts in Italy in a single unit.
UniCredit - Intesa - Sanpaolo - Mediobanca - Goldman
UniCredit, Intesa Sanpaolo, Mediobanca, Goldman Sachs and BofA-Merrill Lynch are among the banks finalizing the bridge-to-bond loan but other lenders could join the deal, the sources said.
A bridge-to-bond loan is a facility provided by banks to companies before they can access the capital market.
Il - Messaggero - Saturday - Loan - Partnership
Italian daily Il Messaggero reported on Saturday that a five-year loan is being worked out to support the partnership between TIM and Vodafone.
The financing scheme was expected to be wrapped up by the end of July at the latest, the sources said, with the two...
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