Regulator blocks EI Towers bid for RaiWay in current form

Tuesday 14 April 2015 | 09:11 CET | News
Italian market regulator Consob has announced that EI Towers' proposed EUR 1.23 billion bid to acquire rival tower operator RaiWay cannot proceed in its current form. Mediaset-controlled EI Towers announced its bid in February and has been examining ways of overcoming the Italian government's insistence on retaining a 51 percent stake in RaiWay in view of the strategic importance of the asset. Although EI Towers revised its offer last week, lowering the threshold to at least 40 percent of RaiWay, the regulator said the new offer didn't constitute a new bid and that, as a result, the approval

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Categories: Broadcast & Satellite
Companies: EI Towers / Mediaset / RaiWay
Countries: Italy
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