October 31, 2012 / 6:11 PM / in 5 years

Italy's Consob doubtful on Proto's pact in RCS

MILAN, Oct 31 (Reuters) - Italy’s market watchdog Consob said on Wednesday that financier Alessandro Proto had not complied with its requests of information about his shareholder pact in publisher RCS Mediagroup.

“There are no elements to prove the truthfulness of what Proto has communicated to the Commission and the market about the RCS shareholder pact,” Consob said in a statement.

The market watchdog had asked Proto to disclose the identity of his partners in the pact and provide other information by a Wednesday deadline.

Shares in RCS were highly volatile recently, reacting to Proto’s announcement of stake building. (Reporting by Francesca Landini)

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