RaiWay bid for EI Towers “approval unlikely”
April 1, 2015
From Branislav Pekic in Rome
After the opposition of Italy’s Ministry of Economy and Finance and public broadcaster RAI to the sale of the controlling interest (51 per cent) of the company that manages the TV transmission towers, it is now the turn of the Antitrust Authority.
The competition watchdog said that the €1.2 billion bid by EI Towers, controlled by Italian commercial broadcaster Mediaset, for RaiWay, is not likely to be approved as it risks creating a dominant market position.
However, the Authority will reach a decision only after the expiry of a 10-day deadline during which all parties have the right to respond.
Previously, the Board of Directors of RAI said that it was impossible for EI Towers to proceed in purchasing a controlling stake, since the Italian government had already said it wanted to keep at least a 51 per cent stake in Rai Way.
But, despite the setbacks, EI Towers claims it will be able to convince the Antitrust Authority of the legitimacy of its bid.