Italy: Banks readying 2.5 billion euro loan in TIM-Vodafone Italy tower deal: sources

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 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.

Full Content: Reuters

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