June 3, 2015 / 8:24 AM / 3 years ago

Banks to start collecting orders for Inwit IPO next week: source

MILAN (Reuters) - Banks will start collecting orders for the initial public offering of Telecom Italia tower unit Inwit next week, a source close to the matter said on Wednesday.

The Telecom Italia tower is seen south of Rome August 28, 2014. REUTERS/Max Rossi

Telecom Italia aims to sell up to 40 percent of Inwit in the IPO to raise money to upgrade its networks and return its domestic business to growth.

Inwit could be worth up to 2.6 billion euros ($2.9 billion) according to research notes from Mediobanca Securities and Banca IMI, which are global coordinators of the share sale.

Reporting by Elisa Anzolin; writing by Francesca Landini; editing by Luca Trogni

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