Mediaset selling 25 pct of EI Towers

MILAN, April 3 Thu Apr 3, 2014 12:04pm EDT

MILAN, April 3 (Reuters) - Italian TV company Mediaset said on Thursday it had started a placement of 25 percent of its broadcasting towers unit EI Towers to raise money to help fund growth in its core business.

Mediaset, which is controlled by former Italian prime minister Silvio Berlusconi, currently controls 65 percent of EI Towers through its subsidiary Elettronica Industriale.

At current market prices, the stake on sale is worth around 300 million euros ($411.5 million).

The sale to Italian and international institutional investors is being run by Mediobanca through an accelerated book building process. ($1 = 0.7291 Euros) (Reporting by Danilo Masoni, editing by Isla Binnie)

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