Italy's Rai Way shares rise 1. 15 percent as it goes public

(AGI) Milan, Nov 19 - Italy's Rai Way made a bright start onthe stock exchange. The shares of the operator of the Italianpublic broadcasting service's transmission towers made theidebut with a 1.15 percent rise to 2.97 euros per share.Approximately 70 funds, including American investment giantBlackRock, have purchased Rai Way shares after they were quotedon the stock exchange, said Rai Way President Camillo Rossottoat the bell-ringing ceremony. The funds obtained "consistentquotations" and BlackRock in particular bought a relevant 2percent stake. "There are approximately 70 funds out of the 120that we checked

(AGI) Milan, Nov 19 - Italy's Rai Way made a bright start onthe stock exchange. The shares of the operator of the Italianpublic broadcasting service's transmission towers made theidebut with a 1.15 percent rise to 2.97 euros per share.Approximately 70 funds, including American investment giantBlackRock, have purchased Rai Way shares after they were quotedon the stock exchange, said Rai Way President Camillo Rossottoat the bell-ringing ceremony. The funds obtained "consistentquotations" and BlackRock in particular bought a relevant 2percent stake. "There are approximately 70 funds out of the 120that we checked out. The presence of BlackRock, in particular,represents an important signal because in this market it isfundamentally important to be appealing to British and Americanfunds", Mr. Rossotto said. What makes a difference in thismarket is the price and our position was very firm", heexplained. He replied to rumours that the company presented anon-binding bid for the purchase of antennas from Italiantelecommunications company Wind with an investment fund, bysaying: "We are actively part of the process. It is a processthat is underway and that we are engaged in and we areevaluating the next steps forward". The company "has anexcellent financial set-up and is capable of participating ingrowth operations, not only organic [ones]," he added. "We wantto become Italy's leading tower company and our ambition is togrow." (AGI) . .