Markets

RCS shares surge after book unit bid confirmed

Reuters Milan | Updated on January 24, 2018 Published on February 19, 2015

Shares in RCS Mediagroup rose as much as 6 per cent on Thursday after news the Italian publisher had received a non-binding offer for its book unit from Mondadori.

The two companies had issued separate statements on Wednesday at the behest of market regulator Consob after sources told Reuters Mondadori was in advanced talks to buy RCS Libri in a deal that could be worth between €120 million and €150 million.

“High debt and difficulties in generating sustainable profitability from books could push RCS to agree to the sale,’’ broker ICBPI said in a note.

By 0815 GMT shares in RCS were up 4.4 per cent against a flat all-share Milan stock index. Shares in Mondadori rose 0.9 per cent.

Published on February 19, 2015
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