Bertelsmann SE & Co KGaA (BTGGga.F)
18 Aug 2017
LONDON British education group Pearson is cutting 3,000 jobs and slashing its dividend in its latest attempt to revive a business hit by the shift to digital from paper textbooks.
* Reiterates full-year guidance; shares down 0.9 pct (Adds CEO comments, analyst reaction, shares)
LONDON, Aug 4 British education group Pearson slashed its interim dividend by 72 percent to 5 pence on Friday as it started a restructuring programme to tackle the pressures facing its business.
(The following statement was released by the rating agency) LONDON, July 14 (Fitch) Fitch Ratings says there is no impact on Bertelsmann's ratings (BBB+/Stable) from the Penguin Random House (PRH) transaction. Bertelsmann announced it intends to increase its stake in PRH by acquiring a further 22% from current owner Pearson and undertake a capital increase at PRH. Together this is expected to amount to around EUR850 million (USD968 million). The transaction will take Bertelsmann's ownership of P
FRANKFURT, July 14 German publisher Bertelsmann said board member Fernando Carro, chief executive of services unit Arvato, was leaving the company by mutual agreement with immediate effect and would not be replaced.
July 11 The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
July 11 Britain's FTSE 100 index is seen opening 2 points higher on Tuesday, according to financial bookmakers, with futures up 0.14 percent ahead of the cash market open.
FRANKFURT, July 11 The DAX top-30 index .GDAXI looked set to open 0.3 percent higher on Tuesday, according to premarket data from brokerage Lang & Schwarz at 0638 GMT
LONDON, July 11 Britain's Pearson has agreed to sell a 22 percent stake in the book publisher Penguin Random House to joint venture partner Bertelsmann for around $1 billion to bolster its balance sheet and return cash to shareholders.
* PARTNERS HAVE AGREED TO KEEP PURCHASE PRICE CONFIDENTIAL Source text - http://bit.ly/2sMqAQb Further company coverage: (Gdynia Newsroom)