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OpNet transaction WindTre bolsters spectrum position; Inwit implications

Italian FWA operator OpNet (the successor of Linkem) has announced the sale of their operations and spectrum to WindTre, for a transaction EV of €485m. In this Quick Take we look at i) the implied 3.5GHz spectrum price, ii) implications for mobile spectrum share, and iii) the scale of potential tenancy losses at Inwit.
Underlyings
Infrastrutture Wireless Italiane S.p.A.

Infrastrutture Wireless Italiane SpA, also known as Inwit, is an Italy-based company primarily engaged in telecommunication industry. The Company is active in the operation of wireless telecom facilities and equipment, specifically those dedicated to the hospitality of radio transmission equipment, telecommunications and distribution of television and radio signals. It owns radio transmission equipment for mobile telephony networks. Infrastrutture Wireless Italiane SpA concerns mainly its activities relating to the construction and management of passive infrastructure sites, generally consist of civilian facilities, such as towers , trellises and poles, as well as technological systems, necessary to accommodate the equipment of receiving and transmitting, owned by Telecom Italy and other customers. It operates through Gestione Due Srl.

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New Street Research
New Street Research

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Analysts
Ben Rickett

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