Italian judge rejects INWIT bid to block Fastweb's exit from tower contract
Legal Dispute Between INWIT, Fastweb, and TIM
Urgent Requests and Judicial Decisions
MILAN, July 14 (Reuters) - An Italian judge has rejected an urgent request by INWIT to suspend the withdrawal by Fastweb, the Italian arm of Swisscom, from a tower lease agreement, the Italian telecom tower company said on Tuesday.
On Monday, another judge rejected a similar request made by Inwit against a withdrawal by phone group Telecom Italia (TIM).
Responses from Involved Parties
Fastweb was not immediately available for comment.
INWIT's Reaction and Next Steps
In a statement, INWIT expressed "its firm and radical disagreement" with the judge's decision, and said it would appeal. It also said the case would continue with an ordinary trial, rather than the fast-track procedure it had sought.
Ongoing Litigation and Business Impact
CASE CONTINUES
This week's rulings mean that INWIT has failed in bids to immediately block the contract terminations, but litigation over the issue is set to continue through regular court proceedings, due to hear the case in full.
Background: Contract Terminations and Revenue Impact
Italy's largest telecom tower operator is embroiled in a legal dispute with its two main customers, TIM and Fastweb, both of which have initiated procedures to terminate their respective contracts as part of efforts to renegotiate more favourable terms.
TIM and Fastweb are INWIT's main anchor tenants and account for nearly 85% of its €1 billion ($1.15 billion) revenue.
Financial Context
($1 = 0.8740 euros)
Reporting Credits
(Reporting by Claudia Cristoferi, editing by Alvise Armellini)
