Opa Mediaset towers Rai. The Government holds back, “the 51% remains the public” – AGI – Agenzia Journalistic Italy

February 25, 2015 22:43

(AGI) – Rome, February 25 – Mediaset has launched a tender offer to buy the towers of Rai, but after a day of controversy in the evening and ‘the government intervened with a note stating that the 51% of the Rai Way must remain in public hands.

“The public offer for Rai Way – begins the note – confirms the appreciation from the market at the time of the choice made by the government to enhance the company ‘of Rai making towers out of immobility in which he was confined.
The IPO and ‘proved a success. ”

Immediately after comes the clarification of the government remembering that, even given the strategic importance of the network infrastructure, a decree of the Prime Ministers of 2 September 2014 decided to maintain in head to Rai a share in the capital of not less than 51 percent . “

Ei Towers, company ‘controlled by Mediaset with 40%, has launched the tender offer on Rai Way, the company ‘of transmission towers Rai.
The transaction, which has had the approval of the board Mediaset, will have’ a value of 1.225 billion, about 851 almost 374 million in cash and in shares.

“For each common share tendered in the Offer Rai Way – reads a note – the Offeror will recognize ‘shareholders a consideration represented by a component in cash, equal to Euro 3.13 (corresponding to approximately 69% of the overall value of each ordinary Rai Way), and an equity component, consisting of n. 0.03 ordinary shares of EI Towers newly issued (corresponding to about 31% of the overall value of each ordinary Rai Way) (together, the “Consideration”).

On the basis of the reference price of the ordinary shares of EI Towers yesterday (Euro 45,83), the Consideration expresses a valuation of approximately Euro 4.50 per ordinary share Rai Way and therefore , for every 100 ordinary shares in the Offer Rai Way, members will receive Euro 313.00 and n. EI Towers 3 ordinary shares newly issued “.

Ei Towers underlines the purpose to create” a great single national operator in the field “ but that ‘continue’ to ensure ‘ access to infrastructure to all broadcasters, independent, transparent and non-discriminatory terms second. “

Meanwhile, the Antitrust Authority will evaluate ‘the opa of Ei Towers, Controlled Mediaset, Rai Way “by the words” law “in order to see if this would lead to the creation or strengthening of a dominant position in the domestic market, so as to eliminate or substantially reduce competition and durable.”

‘As he writes in a statement of authority’ competition and the market, to the effect that the authorities’ received by the Ei Towers “prior notification of the concentration consisting of the acquisition exclusive control of Ray Way “.