La Cairo Communication is close to 60% of the capital of Rcs. This is the booty of the patron of La7 at the end of the period during which the shareholders who had adhered to the competing offer of Hmm (Investindustrial, Della Valle, Mediobanca, Pirelli and UnipolSai) were able to transfer the RCS shares and adhere to the Cairo takeover bid, the winning outcome of the battle for the publishing group.
On the last day alone, 19.770.358 RCS shares were transferred to the winning takeover bid, which thus reaches a total of subscriptions equal to 311.517.842 shares of the publishing group, or 59,69319% of the RCS capital.
The long dispute for control of RCS thus concluded for Urbano Cairo, which saw the development of the battle with related raises between his public offer (later transformed into public offer) launched last April 8 with the support of Intesa Sp and the cash public offer by Andrea Bonomi and four members of the publishing group (Mediobanca, Diego Della Valle, Pirelli and UNipolSai).
On balance, the first had collected 48,8% of the capital, while the second counted subscriptions equal to 12,9%, which added to the shares already held (22,6% and 2,17%) brought the total to 37,7%. Subsequently, from 22 to 28 July, those adhering to the losing offer had the right to transfer their shares to the winning offer and in the end Cairo collected 59,7% of the capital.
Now we await some news already on the occasion of the meeting of the current board of RCS which on August 3rd will have to examine the group's half-yearly accounts. In the event that some members decide to resign from the board, Urbano Cairo would be able to enter the management of the group directly without waiting for the usual 40 days for the shareholders' meeting to renew the board.
In the meantime, however, International media holding he has no intention of resigning himself to defeat. The consortium has decided to resort to the Lazio Tar against Consob's decision regarding the non-suspension of the takeover bid promoted by Cairo Communication on Rcs Mediagroup shares.
