In the transmission tower sector, joining forces can generate cost efficiencies but the road to integration between Ei Tower and Rai Way, as Mediaset has proposed, is all uphill. This is the thought of the managing director of Banca Imi and general manager of Intesa Sanpaolo, Gaetano Miccichè. Speaking on the sidelines of a conference on Russia, the manager recalled that "we were global coordinator of the Rai Way IPO, that we are global coordinator of the IPO on the Telecom towers and advisor on the sale of the Wind towers".
Based on this experience, Miccichè explained that “the towers are physical infrastructure and companies consider it interesting to unbundle them and then put them together to make costs more efficient”. However, the Ei Tower-Rai Way operation appears difficult to carry out: "Here there is a law which binds Rai to have 51% of Rai Way and it seems to me a strong bond, the operation seems difficult to carry out until the Government does not remove this constraint”. In the market, however, there is strong interest in operations involving transmission towers because "this sector offers investors the almost certainty of having long-term returns".
“I hope that the listing of the Telecom towers can take place within the first half of the year”. This was the wish of the CEO of Banca Imi and general manager of Intesa Sanpaolo, Gaetano Miccichè. “We are working hard with the company to make this happen – he added – I don't think that the Ei Tower-Rai Way operation can change Telecom's will”. Banca Imi advisor to the Italian telephone company for the listing of Telecom transmission towers.
