Italy finalising decree to trigger TV towers tie-up, economy minister says

Rai Way SpA

09/04/2024 15:50

ROME, April 9 (Reuters) - Italy is finalising a decree
to facilitate a long-awaited tie-up between state-backed Rai Way
 RWAY.MI  and its rival EI Towers, the economy minister said, a
deal that would create a TV towers group worth more than 2
billion euros ($2.17 billion).
    State TV broadcaster RAI holds 65% of Rai Way, while EI
Towers is 60% owned by fund F2i and 40% by MediaForEurope (MFE),
which is controlled by the family of late media tycoon and
political leader Silvio Berlusconi.
    "The government aims to create an entity with a relevant
public presence to manage the tower infrastructure," Minister
Giancarlo Giorgetti told reporters on Tuesday.
    Government officials last month said the decree could allow
state-owned broadcaster RAI to cut its stake in Rai Way below
30%, but Giorgetti dismissed such option.
    "There is no decline below 30%," he said.
    RAI said in January it planned to sell a 15% stake in Rai
Way to help fund its new industrial plan.
    Last week, the chief executive of Italy's state bank Cassa
Depositi e Prestiti (CDP) said he would be ready to consider,
under the right circumstances, a possible acquisition of a stake
in Rai Way.
    ($1 = 0.9202 euros)

 (Reporting by Matteo Negri and Giuseppe Fonte
Editing by Tomasz Janowski)
 ((giuseppe.fonte@thomsonreuters.com; +390680307711;))