Italy’s Mediaset has launched a joint takeover bid with the infrastructure fund F2i for the 60% of the El Towers masts unit it does not already own.
According to Reuters, the bid has been tabled at €57 per share.
It adds that El Towers was created in 2012, when Mediaset merged its tower business with its competitor DMT Group.
Three years later, El Towers tried unsuccessfully to take over the rival state owned Rai Way.
Reuters notes that the masts business in Italy has long been seen as ready for consolidation.