INWIT jumps as media report renews M&A chatter

Shares in Italy's INWIT INWT.MI rise 7% after a media report renews speculation of potential takeover bid involving investor firms Ardian and Brookfield

French infrastructure fund Ardian is working with U.S.-based asset manager Brookfield on a joint takeover bid aimed at 100% of INWIT, financial daily Il Sole 24 Ore reports

Ardian and INWIT declined to comment, while Brookfield did not immediately respond to a Reuters request

Speculations of a takeover, in line with what was initially reported by French daily La Lettre in February, come after the stock plunged last week following a planned tower tie-up by clients TIM TLIT.MI and Swisscom's SCMN.S Fastweb

"In this context, plans for a de-listing would run up against the lack of visibility on relationships with anchors," Intermonte says

Both Intermonte and Equita cite "political and regulatory complexity" of any deal, potentially subject to Italy's Golden Power regulations

Including Tuesday's rise, the stock is down about 14.6% YTD