March 29, 2018 / 10:42 AM / 6 months ago

Italy's Gedi says reports of international tie-ups "groundless"

MILAN, March 29 (Reuters) - Italian publisher Gedi dismissed as “groundless” press reports about alleged international projects, which sent the stock up more than 8 percent on Thursday.

Gedi shares surged following reports that French entrepreneur Xavier Niel, who co-owns France’s influential Le Monde newspaper and several magazines, was interested in the Italian company.

Two sources familiar with the matter have said there had been contacts between Gedi and the founder of telecoms company Iliad, adding however it was unclear whether this would lead to any deal.

Reporting by Paola Arosio, writing by Maria Pia Quaglia, editing by Stephen Jewkes

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