Italy's RCS sees no need for second share issue

MILAN Tue Oct 8, 2013 6:46am EDT

MILAN Oct 8 (Reuters) - RCS Mediagroup's chief executive said on Tuesday he saw no need for a second capital increase at the moment, after raising 410 million euros ($556 million) in July in a share issue.

"For the time being we don't see this need on the horizon," Pietro Scott Jovane told reporters on the sidelines of an event.

In May, shareholders of RCS voted in favour of a rights issue of up to 600 million euros needed to keep the money-losing Italian publisher in business.

At 1044 GMT, RCS shares were unchanged. ($1 = 0.7368 euros) (Reporting by Claudia Cristoferi, writing by Danilo Masoni)

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