EI Towers blocked in RaiWay bid

26 Feb 2015

The Italian government has blocked a move by the broadcasting and communications tower company EI Towers to acquire rival firm RaiWay. The Ministry of Economic Development says the RaiWay towers are of strategic importance and should remain under majority control of state broadcaster RAI, Bloomberg reports. EI Towers, which is backed by Silvio Berlusconi’s broadcasting group Mediaset, had offered around EUR1.23 billion (USD1.4 billion) cash for the RaiWay business. EI Towers had also been hoping to acquire the mobile tower network belonging to Italian cellular operator Wind, but was recently outbid by Spanish infrastructure firm Abertis.