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13 June 2024
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 Financial

Roma 5G: option for INWIT to purchase 51% of Boldyn Networks Smart City Roma S.p.A.

Rome, 13 June 2024 – INWIT has formalized an agreement which provides for an option right for INWIT for the purchase of an exclusive controlling share of 51% of the share capital of Boldyn Networks Smart City Roma S.p.A., the company which was awarded the concession for the Roma 5G project (the “Project”) at the end of last year. The agreement further includes an option right (call) in favor of INWIT for the purchase of the remaining share package of the same company, under certain conditions, and a right of sale (put) in favor of Boldyn Networks Italia, subject to certain conditions. The “call” and “put” options for the purchase of the additional 49% of Boldyn Networks Smart City Roma S.p.A. may be exercised after the official test (“collaudo”) of the project.

The agreement is consistent with INWIT’s 2024-2026 business plan and is coherent with the strategy which envisages investments from a “neutral host” perspective to support the network plans of telecommunications operators, aimed at enabling the growing demand for integrated digital infrastructure, macro-grid and micro-grid, outdoor and indoor, particularly in significant smart city projects.

Should the call option in favor of INWIT be exercised, the closing of the transaction is expected in the third quarter of 2024 and is subject to the green light of relevant Authorities and to termination and suspensive conditions in line with market practices.

The Roma 5G Project represents a public-private partnership, with a concession lasting 25 years for the construction, management, operation and maintenance of an infrastructure that will equip the subways and the main public places of Roma Capitale with a 5G, Wi-Fi and Internet of Things network. The aim is to offer the best connectivity and safety to 3 million residents and more than 15 million tourists, which are expected to materially grow during the upcoming 2025 Jubilee.  Rome 5G will accelerate the city’s digital transition by making it “fast, digital, safe and sustainable”. Overall, the Project foresees infrastructure investments of over 90 million euros in the next 5 years, part of which will come from the public sector.

The project will support the enabling of 5G connectivity by telecommunication operators in all the main focal points of the city (subways, squares and streets) and will enable a wide range of digital services offered by Roma Capitale.