The Italian Competition Authority opens Phase II proceedings on hostile takeover bid over 100% (EI Towers / Rai Way)

In its decision of 10 March 2015, the Italian Competition Authority (the “ICA” or the “Authority”) decided to open Phase II proceedings in relation to the merger notified on 25 February consisting of EI Towers S.p.A.’s (“EI Towers”) hostile takeover bid over 100% of Rai Way S.p.A.’s (“Rai Way” together with EI Towers, the “Parties”) share capital, conditional on at least 66.67% of the shares being subscribed [1]. The Phase II proceedings were initiated after a request for additional information was sent to EI Towers on 3 March 2015, subsequent to the notification [2]. Both companies are transmission tower providers, respectively under the sole control of Mediaset S.p.A. (“Mediaset”),

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Authors

  • Bonelli Erede (Rome)
  • Bonelli Erede (Rome)

Quotation

Sara Lembo, Giulio Matarazzi, The Italian Competition Authority opens Phase II proceedings on hostile takeover bid over 100% (EI Towers / Rai Way), 10 March 2015, e-Competitions Bulletin March 2015, Art. N° 72361

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