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Finance

Rai Way, EI Towers shareholders fail to reach an agreement over TV tower tie-up

Published by Global Banking & Finance Review

Posted on July 1, 2026

1 min read

· Last updated: July 1, 2026

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Rai Way, EI Towers shareholders fail to reach an agreement over TV tower tie-up

Failed Merger Negotiations Between Rai Way and EI Towers

Background of the Merger Talks

MILAN, July 1 (Reuters) - Leading shareholders in Italian broadcasting tower companies Rai Way and EI Towers failed to reach an agreement on the terms of a merger by a June 30 deadline set for their talks, a statement by national broadcaster RAI said on Wednesday. Negotiations over a tie-up between Milan-listed Rai Way, controlled by RAI, and rival EI Towers were aimed at creating a single national broadcasting tower champion.

Statement from RAI

"After talks between the parties, the reviews did not yield a shared basis for negotiations, needed to continue pursuing the deal," the statement said.

Ownership Structure of EI Towers

EI Towers is 60% owned by Italian infrastructure fund F2i, with the rest held by Italy's largest commercial broadcaster MFE-MediaForEurope, controlled by the family of late former Prime Minister Silvio Berlusconi.

(Reporting by Elvira Pollina, editing by Cristina Carlevaro)

Key Takeaways

  • Negotiations since December 2024 under a Memorandum of Understanding (MoU) expired without agreement by the June 30, 2026 deadline (f2isgr.it).
  • The proposed merger aimed to consolidate ~4 700 sites into a single national tower champion valued at ~€4 billion, offering efficiency gains and maintaining stock exchange listing (money.it).
  • Disagreements centred on valuation and governance, despite prior alignment on extending service contracts to 2036–2037; a further short extension may still be possible (money.it)

References

Frequently Asked Questions

Why did Rai Way and EI Towers fail to reach a merger agreement?
Shareholders were unable to agree on the terms of the merger by the June 30 deadline set for their talks.
Who controls Rai Way and EI Towers?
Rai Way is controlled by the public broadcaster RAI, while EI Towers is 60% owned by infrastructure fund F2i and the rest by MFE-MediaForEurope.
What was the goal of the Rai Way and EI Towers merger discussions?
The aim was to create a single national broadcasting tower champion in Italy.
Who owns MFE-MediaForEurope?
MFE-MediaForEurope is controlled by the family of the late former Prime Minister Silvio Berlusconi.

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