30 Mar 2015
6-K: WIND Telecomunicazioni announces completion of the sale of majority stake of its tower subsidiary to Cellnex Telecom (Abertis Telecom)
Rome, Italy - March 26, 2015
WIND Telecomunicazioni S.p.A. (“WIND”) announces the successful completion of the sale of 90% of the shares of its fully owned subsidiary Galata S.p.A. (“Galata”) to Cellnex Telecom (“Cellnex”), formerly named Abertis Telecom Terrestre SAU, and the receipt of a total cash consideration of 693 million euro.
WIND has entered into a Tower Services Agreement for an initial term of 15 years with Galata for the provision of a broad range of services on the contributed sites and sites that will be subsequently built by Galata hosting WIND equipment.
Galata is a tower business consisting of 7,377 towers together with the relevant functions, employees and related contracts, of which Cellnex owns 90% of the share capital while WIND retains a 10% stake.