UPDATE 1-EI Towers bid on Rai Way cannot proceed in current form

April 13, 2015 10:18 PM

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MILAN, April 13 (Reuters) - The planned 1.2 billion euro ($1.3 billion) offer by Italian broadcast tower operator EI Towers to acquire state-controlled rival Rai Way cannot go ahead in its current form, market watchdog Consob said on Monday.

EI Towers, controlled by former Prime Minister Silvio Berlusconi's Mediaset group, announced its bid back in February but met with resistance from the government which said at least 51 percent of Rai Way should remain in state hands.

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