Roma 5G: INWIT has finalised the purchase of 52.08% of Smart City Roma S.p.A.
Rome, 30 October 2024 – Following its announcements on 13 June and 30 July 2024, INWIT, Italy’s leading tower operator, has finalised its purchase of an exclusive controlling share of 52.08% of the share capital of Smart City Roma S.p.A., (formerly Boldyn Networks Smart City Roma S.p.A., a project company previously 93% owned by Boldyn Networks Italia S.p.A.) which won the tender called by Roma Capitale for the Rome 5G project concession at the end of last year.
Closing of the operation was finalised on 30 October 2024 following the go-ahead of the competent Authorities and fulfilment of the suspensive conditions in line with market practices, as set out in the agreement formalised on 29 July. It is also worth noting that within the framework of the agreement, call and put options on the remaining stakes in Smart City Roma S.p.A. are envisaged, which may be exercised after project testing, scheduled for July 2029.
Following the completion of the purchase operation, a new Board of Directors of Smart City Roma S.p.A. was appointed, composed of: Andrew Peter McGrath (as Chairman of the Board of Directors), Michele Gamberini (appointed Chief Executive Officer at the Board meeting held on the same date), Antonino Ruggiero, Emilia Trudu and Andrea Mondo.
In addition, the shareholders’ meeting of Smart City Roma S.p.A. appointed a new Board of Statutory Auditors composed of: Eugenio Della Valle (Chairman of the Board of Statutory Auditors), Loredana Genovese and Maria Teresa Bianchi (Standing Auditors) and Francesco Grandolfo and Edoardo Ginevra (Alternate Auditors).
The transaction is part of INWIT’s 2024-2026 business plan and is consistent with the strategy providing for “neutral host” investments to support the network plans of all telecommunications operators, aimed at enabling the growing demand for integrated macro-grid and micro-grid digital infrastructure, outdoor and indoor, especially in significant smart city projects.
The Rome 5G project is being developed in collaboration with Roma Capitale to help all operators in the sector provide 5G connectivity in all the main hubs of the city (metro lines, squares and streets). Specifically, it plans to create digital and shared infrastructure to enable 4G and 5G cellular coverage on the A, B, B1, and C metro lines, in 100 squares, on 98 neighbouring streets, and in 7 public buildings of the Municipality of Rome (including the Campidoglio). This will also involve the installation of small cells according to the operators’ needs. The plan also provides for the installation of Wi-Fi in 100 squares, 2,000 cameras and IoT sensors.