Italy's anti-trust and competition regulator AGCM will be investigating EI Towers EUR 1.23 billion bid to acquire rival tower operator RaiWay.
According to a statement from the regulator, this investigation is to “ascertain the possible creation or strengthening of a dominant position in the TV and radio broadcasting infrastructure market.” Completion of the investigation should be within 45 days, said the regulator.
During last week, the regulator sought clarification and additional information from EI Towers parent company Mediaset on the proposed takeover bid, which is also being examined by Italian telecoms regulator AgCom.
Earlier, the Italian government had announced that at least 51 percent of RaiWay had to remain under the control of Rai in view of the strategic importance of the assets but EI Towers is pushing for two-thirds ownership.
According to a statement from the regulator, this investigation is to “ascertain the possible creation or strengthening of a dominant position in the TV and radio broadcasting infrastructure market.” Completion of the investigation should be within 45 days, said the regulator.
During last week, the regulator sought clarification and additional information from EI Towers parent company Mediaset on the proposed takeover bid, which is also being examined by Italian telecoms regulator AgCom.
Earlier, the Italian government had announced that at least 51 percent of RaiWay had to remain under the control of Rai in view of the strategic importance of the assets but EI Towers is pushing for two-thirds ownership.