Inwit: the acquisition of mobile network assets from Wind Tre is in the final stages

Around twenty base stations, spread across the peninsula, are set to change hands, passing from Wind Tre to Inwit. According to Il Sole 24 Ore, the two companies are in the final stages of negotiations for the transfer of these assets from the telecoms firm owned by CK Hutchison to the tower company led by CEO Diego Galli; according to Reuters, the main shareholders are reportedly intent on pursuing a delisting process. The aim is to transform these ‘property’ sites into a platform for developing data centre-related activities. Indeed, some Wind Tre data centres are already located within these sites. In others, this business is yet to be developed.

As mentioned, the negotiations are now at an advanced stage. And, according to *Il Sole 24 Ore*, regarding the structure for managing the businesses once the sale has been finalised, the prevailing option on the table appears to be a joint venture, with Inwit at the helm and Wind Tre as a minority shareholder. The sale of the exchanges therefore forms the cornerstone of the agreement, whilst the possibility of some form of industrial collaboration would still remain on the table.

On closer examination, Wind Tre’s rationale for the deal appears to be twofold. On the one hand, there is the financial gain, which, according to the information gathered, is by no means exorbitant: in the region of several tens of millions of euros. On the other hand – and here too the rationale is sound – there is the reduction in costs associated with managing facilities that require maintenance, energy and investment. All this comes against the backdrop of Wind Tre closing the first half of the year with revenues of 1.842 billion – down 4 per cent from the 1.924 billion recorded in the first half of 2025 – with the financial results having been affected primarily by performance in the wholesale sector. A potential minority stake in the joint venture would thus allow Wind Tre to benefit from the resources and know-how of others whilst remaining, to some extent, linked to the project’s development.

For Inwit, on the other hand, the deal appears to be part of a diversification strategy designed to move beyond its traditional business of mobile phone masts. The company has repeatedly identified data centres and innovative services as a key growth area. Acquiring sites that are already spread across the country would allow the company to build on existing infrastructure, rather than starting from scratch.

It is, therefore, a property transaction, but it would be an oversimplification to categorise it solely in these terms. The aim is to give a new lease of life to infrastructure originally built for the telecoms sector, in a market where the ability to process and manage data is becoming increasingly important. And where the proximity of these facilities to networks can be an advantage, particularly for applications requiring short response times