Telecom Italia (TIM) said on Tuesday it signed an agreement with Ardian and Daphne 3 to sell the residual stake in Infrastrutture Wireless Italiane (INWIT). The Italian telecom major agreed to sell its remaining 10% stake in Daphne 3. Daphne 3 holds a 29.9% stake in Infrastrutture Wireless Italiane. The agreement, based on an INWIT share price valuation of €10.43, is expected to yield about €250 million ($273 million) for TIM, an amount not included in the 2024 guidance. The closing of the transaction is expected to take place in the fourth quarter of 2024.