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Italian phone operator Wind to sell half its towers to Spanish Abertis

Xinhua, March 2, 2015 Adjust font size:

Italian phone operator Wind Telecomunicazioni announced on Monday the sale of a majority stake in its tower subsidiary to Spanish company Abertis Telecom.

Abertis will invest 693 million euros (about 778 million U.S. dollars) to acquire a 90 percent stake in Wind's fully-owned subsidiary Galata, a statement from Wind said.

Galata manages 7,377 towers together with the relevant functions, employees and related contracts. Wind currently owns 13,000 mobile phone towers in Italy.

Wind will retain a 10 percent stake in Galata, the statement said, adding the transaction is expected to occur within the first quarter of 2015.

Since 2011, Wind has been part of the VimpelCom Group, one of the world's leading integrated TLC operators, headquartered in Amsterdam.

At the end of 2013, Wind was the third leading mobile operator in Italy with 22.3 million customers, the company's press office told Xinhua. Endit