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Exclusive: Vodafone, TIM to win conditional EU approval for tower deal: sources – Source Reuters Tech News

FILE PHOTO: Telecom Italia new logo is seen at the headquarter in Rozzano neighbourhood of Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini/

BRUSSELS/MILAN (Reuters) – Vodafone and Telecom Italia (TIM) are set to secure conditional EU antitrust approval to create Europe’s biggest mobile towers company, part of a strategy to roll out lucrative 5G services, sources said on Thursday.

The companies announced a plan last July to create Italy’s largest mobile towers group through the transfer of Vodafone’s Italian mobile masts to INWIT, TIM’s 60%-owned subsidiary.

When the 10-billion-euro ($11.2 billion) merger is complete, TIM and Vodafone will each have a 37.5% stake and equal governance rights in the enlarged INWIT.

The telecoms providers last month offered to give rivals access to some of their infrastructure for up to nine years to address EU antitrust concerns.

This included making available between 400 and 630 sites annually in towns with more than 35,000 people to…

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Source Reuters Tech News

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