The Agnelli-Elkann family wants to redraw the Italian publishing map and aims at the editorial group of Repubblica and L'Espresso. There are allegedly well underway negotiations for a possible shareholding reorganization of the Gedi group, the publishing company which, as known, has the De Benedetti family as its first shareholder with 43,8% of the shares, the Agnelli family with 5,99%, Giacaranda Falck with 5,08% and Carlo Perrone with 5,02%.
The operation was announced by the Cir group itself, holding company of the De Benedetti family which controls Gedi, with a press release late yesterday evening. "With reference to the indiscretions that appeared in some press organs, we read in the press release - regarding the participation of Cir (Compagnie industriali unite) in Gedi, at the request of Consob Cir informs that discussions are underway concerning a possible operation to reorganize the shareholding structure of Gedi which would lead to the acquisition of control of Gedi by Exor”.
To understand the possible operation in detail, we will have to wait a few more days. As specified in the press release in its conclusion: "Cir's Board of Directors is convened for next Monday 2 December to examine this possible transaction and, following the outcome, the appropriate communications will be provided to the market".
But now we understand better the meaning of the furious quarrel of a few months between Carlo De Benedetti and his sons Rodolfo and Marco who manage Cir and Gedi, accused of wanting to sell their newspapers. In reality, the Engineer had sniffed the air and tried to block the way for what, due to ancient Turin rivalries, he considers the worst buyer, namely Exor of the Agnelli-Elkann family which, after taking on an important stake in the Economist, could now become the controlling shareholder of the Republic, of the local newspapers, of the magazines - including Espresso - of the radios and of the local newspapers of the Gedi group, without count the control of the Press and the Secolo XIX of Genoa.
