Italy's RAI may sell part of its stake in tower unit Rai Way, minister says (updated)

Rai Way SpA

27/07/2023 09:34

(Adds Giorgetti remarks, background)
       ROME, July 27 (Reuters) - Italy's state broadcaster RAI
could sell part of its stake in tower company Rai Way  RWAY.MI 
to state-backed firms as a way to collect resources for
investments, Economy Minister Giancarlo Giorgetti said on
Thursday.
    His remarks may signal the right-wing government's
willingness to review plans to merge Rai Way and unlisted rival
EI Towers, as envisaged by former Prime Minister Mario Draghi.
    "RAI could consider ceding part of its holding to entities
that could even be under public control," Giorgetti said during
a parliamentary hearing.
    Draghi in March 2022 approved a decree allowing RAI to cut
the stake in Rai Way to 30% from the current 65%, in a move that
was expected to trigger consolidation in the television and
radio mast sector.
    But even then Giorgetti, who served as industry minister
under Draghi, publicly criticised the scheme as he felt that RAI
should not have control of the group stemming from the merger.
    EI Towers is 40%-owned by Italy's top commercial broadcaster
MediaForEurope (MFE)  MFEB.MI . Italian infrastructure fund F2i
holds the remaining 60%.

 (Reporting by Giuseppe Fonte, editing by Francesca
Piscioneri/Keith Weir)
 ((giuseppe.fonte@thomsonreuters.com; +390680307711;))