Lunedì, 22 Ottobre 2018

Mediobanca board gives green light to RCS capital increase


Milan, April 9 - Italian merchant bank Mediobanca's
board of directors on Tuesday voted to participate in a 400
million euro capital increase for struggling media firm RCS,
publisher of Italian daily Il Corriere della Sera, sources close
to Mediobanca's board said.
Earlier Tuesday, Fiat Chairman John Elkann said his company
would also participate - on a pro-rata basis - in the RCS
capital increase.
Mediobanca has a 13.7% stake in the shareholder pact which
controls 58% of RCS and directly owns some 50 million euros in
RCS debt.
The stake makes Mediobanca the firm's largest single
According to the sources, the board members agreed to
participate in the increase on the basis of a restructuring
package which calls for the entrance in RCS's capital of an
industrial partner.
No potential partners have as yet emerged and no name were
discussed, the sources said, pointing out that the first
priority is to secure the company's financial situation.
However, Mediobanca's board has not yet decided on a
position with respect to eventually purchasing unsold shares,
according to the sources.

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