Raiway and EI Towers networks may be transferred to newco involving CdP
Raiway and EI Towers, the listed Italian transmission tower networks, could transfer their networks into a newco where state-owned Italian holding company CdP would take a stake.
An unsourced report in Italian language daily Il Sole 24 Ore said the plan had been drawn up by investment banks and presented to the various parties. CdP, Rai, the Italian TV and radio broadcaster, and Mediaset, the listed Italian media group, would each hold a third of the newco.
Mediaset controls EI Towers and Rai controls Raiway, the report noted.
The item noted Mediaset might be keen on the idea as it could sell part of its stake in EI Towers and reduce debt. The project is not likely to be launched in the near future, as EI Towers is determined to go ahead with its public offer on Raiway, the article added.
Raiway has a market cap of EUR 1.088bn.
Il Sole 24 Ore