First round bids due for Italian towers

First round bids are expected on Monday for a stake in the broadcast towers joint venture owned by Italian telecommunications groups Wind and 3 Italia, with private equity firms expected to face competition from corporate bidders from across Europe.

US buyout firm TPG Capital is expected to bid through its portfolio company Télédiffusion de France, which it acquired alongside Charterhouse Capital and Axa Private Equity last year.

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