July 26, 2019 / 12:33 PM / a month ago

Italy's TIM, Vodafone will each have 37.5 stake in tower company - sources

FILE PHOTO: Telecom Italia's logo for the TIM brand is seen on building roof downtown Milan, Italy, May 20, 2016. REUTERS/Stefano Rellandini

MILAN (Reuters) - Italy’s biggest phone group Telecom Italia (TIM) and rival Vodafone agreed a deal to merge their mobile masts infrastructure in Italy, two sources close to the matter said on Friday.

Under the agreement, Vodafone and Telecom Italia will each have a 37.5 stake in Milan-listed masts group INWIT, which is currently 60 percent owned by TIM, the sources added.

Reporting by Elvira Pollina and Gianluca Semeraro

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