EI Towers and Rai Way may merge in government-guided process involving F2i
EI Towers and Rai Way, the listed Italian transmission towers, could merge in a government-guided process, the Italian language Carlo Festa Blog reported. The unsourced report said that the process would involve the entry of Italian infrastructure fund F2i as a third shareholder.
Italian Treasury holding CdP holds a stake in F2i, the item said.
The operation is on the table after EI Towers withdrew its public offer for Rai Way following regulatory obstacles and the declaration by the Italian government that Italian state-owned TV and radio broadcaster Rai would not allow its stake in Rai Way fall under 51%, the report said.
EI Towers has a market cap of EUR 1.51bn, and Rai Way EUR 1.093bn.
Carlo Festa Blog