Ardian, which is the second largest shareholder in INWIT behind European tower company Vantage Towers AG (VTWRn.DE), wants to take INWIT private and is working with advisers at JPMorgan Chase & Co (JPM.N) on a potential offer, the people said. Deutsche Telekom last year sold 51% of its tower business Funkturm to a consortium of Canada's Brookfield and U.S. private equity firm DigitalBridge. Any offer for INWIT could take months to materialise as preparations remain at a preliminary stage, one of the people said. The sources cautioned that an offer is not certain and asked not to be identified because the deliberations are confidential. Ardian, Vantage Towers, INWIT and JPMorgan declined to comment.

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