July 16, 2018 / 5:55 PM / 3 months ago

Italy's Mediaset, F2i to launch takeover bid on EI Towers -sources

MILAN, July 16 (Reuters) - Italy’s biggest commercial broadcaster Mediaset will launch a joint takeover bid with infrastructure fund F2i on the 60 percent of its EI Towers masts unit it doesn’t already own, two sources said on Monday.

EI Towers, which operates broadcasting antennas and other facilities, is worth 1.4 billion euros ($1.64 billion) based on Monday’s closing price of 49.35 euros a share.

The two sources were confirming a report on the MF daily website. One of them said the buyout offer would be announced shortly.

Credit Suisse, Mediobanca and Intesa Sanpaolo advised F2i while UniCredit advised Mediaset, the sources said. ($1 = 0.8539 euros) (Reporting by Stephen Jewkes and Paola Arosio, writing by Valentina Za, editing by Crispian Balmer)

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