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Italy's Banco Popolare to sell RCS stake through put option
February 17, 2014 / 6:50 PM / 4 years ago

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

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

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