MILAN, June 20 (Reuters) - 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.
A deal would expand Phoenix Tower’s portfolio in Europe, where it owns telecoms tower sites in France and Ireland.
Unlisted EITowers, which manages a core portfolio of broadcasting masts, owns roughly 1,000 telecom towers across Italy.
F2i and Phoenix Tower were not immediately available for a comment. ($1 = 0.8949 euros) (Reporting by Elvira Pollina Additional reporting by Stephen Jewkes Editing by Helen Popper)
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