Rai Way rises as potential merger with EI Towers resurfaces

Rai Way SpA

09/08/2022 09:01

** Shares in Rai Way  RWAY.MI  jump as much as 6.5% as news
of a potential merger with rival EI Towers staged a comeback
after a report on Tuesday by la Repubblica daily 
    ** "The key upside for the shares is consolidation," but the
current political turmoil in Italy is slowing down the talks,
Credit Suisse (CS) says 
    ** Rai Way, owned by Italy's state broadcaster RAI, expects
to have the final decision in 2022, CS says, adding the
ownership structure of the new potential entity is still pending
    ** "Advisers are working on the merger, according to la
Repubblica," a Milan-based trader says, noting this is a deal
that was thought to be gone into oblivions but is back in the
news
    ** "(Under the potential deal), an extraordinary dividend is
also foreseen for both companies. This is the news of the day,"
he adds
    ** By 0755 GMT the stock is up 6.4% and it is on track for
its best day since May 2020
    ** Shares A  MFEA.MI  and B  MFEB.MI  in Italy's top
commercial broadcaster MediaForEurope (MFE), which owns 40% of
EI Towers, both rise over 2%
    
    

 (Reporting by Federica Urso and Giancarlo Navach; editing by
Federico Maccioni)
 ((Federica.urso@tr.com))