EI Towers announces it will no longer pursue public offer on Raiway (Press release attached)
The Board of Directors of EI Towers has expressed its assessments about the voluntary tender and exchange offer promoted on all the ordinary shares of Rai Way (the “Offer”).
After the analysis of the press release dated April 16th, 2015 with which RAI stated that “it would have not adhered in any way to the offer promoted by EI Towers, notwithstanding the modification introduced” – and having taken into account that EI Towers had declared its availability to purchase a minority equity interest in Rai Way provided that a minimum threshold equal to at least 40% of the share capital was achieved – the Board acknowledged therefore that, even before the start of the offering period, there are no conditions to prosecute the Offer.
Raiway has a market cap of EUR 1.093bn.