For the moment, the interest in the unopted RCS Media Group is very small. At the end of the first day of the auction, 1.074.159 rights were sold at the unit price of 0,0309 euro, a small part (about 1%) of the overall total unopted at the end of the capital increase, equal to 16.239.574 .16 rights which will be offered, again with the Dutch auction method, until July XNUMXth.
Meanwhile, the share, thanks to the difficulties of the session, lost about 4,04% to 1,284 euros.
In short, judging by the performance of the title and rights, one can speak of "cold" challenge between the contenders for the leadership in via Solferino. What indications can be drawn from this false start? The hypothesis that Fiat will not participate in the auction of the non-opted shares is gaining ground and therefore will stop at 20,1% of the capital anyway. But even Diego Della Valle might not buy the unopted shares despite previous declarations, if he were to acknowledge that the majority of the old shareholders (with the endorsement of Giovanni Bazoli) would still support Fiat, which today will reply to Consob on the clarifications requested by the Authority on the climbing in RCS.
But a single auction day is not enough to suggest a reliable forecast. Also because Consob's requests to the contenders (Fiat's response could arrive within the day) and the Antitrust beacon suggest prudence. Without forgetting that the winds of war, for now, are good for the contenders' flagships: Fiat +2.77%, but also Tod's +1,04%.
A meeting of the pact is expected by the end of the month, with the aim of deciding on future moves or its cancellation.
