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4 years ago
Generali will not subscribe to RCS Mediagroup's rights issue
April 30, 2013 / 10:12 AM / 4 years ago

Generali will not subscribe to RCS Mediagroup's rights issue

TRIESTE, April 30 (Reuters) - Italian insurer Generali said on Tuesday it will not take up its part of a 500-million-euro ($655 million) rights issue planned by the end of July for loss-making publisher RCS Mediagroup.

Generali holds 3.9 percent of RCS Mediagroup.

"We will not exercise our option in the RCS capital increase," said Generali Chief Executive Mario Greco at a shareholders' meeting, confirming press reports. ($1 = 0.7634 euros) (Reporting by Gianluca Semeraro, writing by Jennifer Clark, editing by xxx)

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