Share

RCS holds back on book sales to Mondadori and collapses on the stock market

Negotiation stranded on the Antitrust node – The deadline was set for 30 September but yesterday the Board gave a mandate to the managing director to "verify the possibility of finalizing the operation within the next few days".

RCS holds back on book sales to Mondadori and collapses on the stock market

The stock on the Stock Exchange falls Rcs, which at the start of the day comes to lose almost 5 percent, one of the worst declines in Piazza Affari. 

To trigger the wave of sales was the news that the Board of Directors of the publishing group has held back on the sale of the Books sector to Mondadori.

The exclusive negotiation had been started in March and the deadline was first set at the end of May, then extended by a month and finally moved to 30 September.

Yesterday, however, in the light of the current state of the negotiations and the persistence of "points still open", the RCS board mandated the managing director, Pietro Scott Jovane, to "verify the possibility of finalizing the transaction within the next days".

Last May, both Jovane and Mondadori's CEO, Ernesto Mauri, had ensured that the transaction would be closed by the end of the summer.

In particular, Mauri had expressed himself in these terms: "What would be missing is not to be finished by the summer, We're not analyzing NASA's accounts. Maybe there will be some postponement, but only by a few weeks ".  

The negotiation between the parties, according to what Radiocor has learned, ran aground during the night on problems related to theAntitrust, in particular on the management of the risks associated with the operation. 

comments