A shareholder in EI Towers has announced he is selling 7.5% of his stake in the Italian towerco through an accelerated bookbuild.
Alessandro Falciai has mandated Mediobanca and Unicredit to sell the shares, according to multiple reports.
Falciai holds…
A shareholder in EI Towers has announced he is selling 7.5% of his stake in the Italian towerco through an accelerated bookbuild.
Alessandro Falciai has mandated Mediobanca and Unicredit to sell the shares, according to multiple reports.
Falciai holds 9.3% of the towerco. He owns 1.6% personally and 7.7% through investment vehicle Millenium Partecipazioni. The stake sale will come purely from Millenium’s holdings.
EI Towers is 65%-owned by former Italian Prime Minister Silvio Berlusconi while US hedge fund Octavian Advisors holds 4.1% of the stock.
The towerco’s share price rose on the back of the news, up by more than 2.5% since the start of the week.
EI Towers has a market capitalisation of €857.5m, which values the 7.5% stake at €64.3m.
