Italy's Banco Popolare to sell RCS stake through put option

MILAN Mon Feb 17, 2014 1:48pm EST

Related Topics

MILAN Feb 17 (Reuters) - Italy's Banco Popolare said on Monday it would exercise a put option to sell its whole stake in RCS MediaGroup, publisher of Italy's best-known newspaper Corriere della Sera.

The transfer of shares, equivalent to 0.91 percent of RCS, and the price settlement are worth 113.9 million euros ($156 million), Banco Popolare said in a statement.

Large shareholders in RCS, including investment bank Mediobanca have been selling their stakes in the publisher.

Carmaker Fiat is now the top investor in the publisher with a stake of around 20.5 percent.

($1 = 0.7298 euros) (Reporting by Isla Binnie, editing by David Evans)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.