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Italy: Seeks more information on $1.4 Billion TV Towers bid

By  |  March 4, 2015

Italian Prime Minister Matteo Renzi’s government rejected a bid by Silvio Berlusconi’s EI Towers SpA to acquire a state-controlled competitor because it considers the business strategic.

The government doesn’t want to sell its 51 percent stake in RAI Way SpA “considering the strategic importance of the infrastructure,” the Economic Development Ministry said Wednesday.

EI Towers last week announced a $1.4 billion offer in cash and stock for rival RAI Way. The merger “aims to create a single operator of broadcasting towers in Italy,” EI Towers said in a statement.

 

Full Content: Reuters

 

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