Consolidation of Italy’s telecom and broadcast towers
Are mergers of EI Towers and Rai Way and Cellnex and Inwit inevitable?
It’s ironic that clarity on the future of Italy’s telecom and broadcast towers should be provided at meetings in Chicago rather than Rome or Milan, but it’s also appropriate given growing international investor interest in Italy’s towers. TowerXchange were invited to keynote the RBC Towers Investor conference in Chicago, and subsequently met with the CEOs of EI Towers, Rai Way, Inwit and the Head of Investor Relations at Cellnex. Respecting the confidentiality of those conversations, here are a few impressions we were left with.
EI Towers – Rai Way merger a distinct possibility in medium term
Whilst it won’t happen within the next 12 months, the consolidation of Italy’s two broadcast towercos, Mediaset’s EI Towers and Rai Way, seems a distinct possibility within a 12-24 month timeframe.