Stake sale in Rai Way does not prevent mooted TV towers tie-up, sources say

Rai Way SpA

18/01/2024 13:29

ROME, Jan 18 (Reuters) - Plans by RAI to sell a minority
stake in Rai Way  RWAY.MI  will not stop the state-owned
broadcaster from exploring a tie-up between its TV tower unit
and unlisted rival EI Towers at a later stage, sources from the
economy ministry said on Thursday.
    To fund its new three year business plan, which includes
additional spending worth 225 million euros ($244.46 million),
RAI said earlier on Thursday it would extract value from a
minority stake in Rai Way while retaining the majority of the
capital.
    Former Prime Minister Mario 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 pave the way for the
merger with EI Towers.
    
    ($1 = 0.9204 euros)

 (Reporting by Giuseppe Fonte, editing by Giulia Segreti)
 ((giuseppe.fonte@thomsonreuters.com; +390680307711;))