Inwit Shareholders Approve Merger With Vodafone's Italian Towers, Extraordinary Dividend

   By Cristina Roca 
 

Telecom Italia SpA's (TIT.MI) Infrastrutture Wireless Italiane SpA (INW.MI), or Inwit, said Thursday that its shareholders have approved the company's merger with Vodafone Group PLC (VOD.LN)'s Italian tower unit.

Inwit said its shareholders approved the distribution of an extraordinary dividend of 0.5936 euros ($0.66) per ordinary share, as well as the appointment of Piergiorgio Peluso and Carlo Nardello as non-executive directors through the end of 2020.

Mr. Peluso was also appointed chairman of the company without executive powers by the company's board of directors, which met after the shareholders' meeting, Inwit said.

The shareholders of Vodafone Towers, Vodafone's Italian tower unit, also approved the merger Thursday, Inwit said.

The U.K's Vodafone and Italy's Telecom Italia announced the deal, which gives Vodafone's Italian towers an implied enterprise value of EUR5.27 billion, in July this year.

Write to Cristina Roca at [e-mail]; @_cristinaroca

(END) Dow Jones Newswires

December 19, 2019 12:53 ET (17:53 GMT)

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