INWIT investors reportedly line up financing for possible take-private
KKR•INWIT’s leading shareholders are arranging financing for a potential take-private bid, two people close to the matter said. The investors are discussing financing with banks, and one person said Mubadala is expected to take a stake as part of the plan.
1. Financing discussions
French private equity firm Ardian and Oak Holdings 1, backed by co-investors GIP, Vodafone and KKR, are exploring a bid to buy out INWIT’s minority shareholders, two people close to the matter said. Ardian controls 32% of INWIT and Oak Holdings controls 39%. The people cautioned that deliberations are ongoing.
2. Contract dispute
One person said Abu Dhabi investment firm Mubadala is expected to take a stake in INWIT as part of the plan. The company is also in a dispute with its two main customers, Telecom Italia and Swisscom’s Fastweb, which have initiated procedures to terminate their contracts as they seek to renegotiate them on more favourable terms.
