Phoenix Tower bids 550 mln euros for Italy’s EITowers telecoms business: source

MILAN: Phoenix Tower International has offered to buy the telecom mast unit of Italy’s EITowers for 550 million euros ($615 million), a source with knowledge of the matter said on Saturday.

The U.S.-based wireless infrastructure group, which was given access to the books of the business, has entered into exclusive talks for the unit, the source added, asking not to be identified because the talks are confidential.

EI Towers is 60%-owned by Italian infrastructure fund F2i, with the remaining 40% in the hands of Italy’s top commercial broadcaster Mediaset.