Investors backed by Jewish billionaire Henry Kravis’s KKR are exploring a takeover of INWIT, Italy’s largest mobile-phone tower company, which is valued at roughly $7.1 billion.
INWIT operates more than 25,000 towers across Italy, providing space for the antennas that major phone companies use to deliver calls and mobile internet. Its business includes serving Telecom Italia and Fastweb.
Reuters reported that Ardian and Oak Holdings, which is backed by KKR, Vodafone and Global Infrastructure Partners, are discussing financing with banks to buy the remaining shareholders’ stakes. Ardian and Oak already own a combined 71%.
The talks are ongoing, with no offer price or completed purchase announced. Kravis co-founded KKR and remains its co-executive chairman.