An Ardian-led consortium agreed to acquire a 30.2% stake in INWIT, which operates in the wireless network infrastructure sector, from Telecom Italia, an Italian telecommunications company, for €1.6bn ($1.8bn). On completion of the transaction, the consortium will hold a 49% stake. "We are fully convinced that digital networks, which showed their resiliency during the coronavirus crisis, will increase their importance globally," Mathias Burghardt, Ardian Infrastructure Head. On October 2, 2020, TIM and Ardian have finalized the investment agreement.