October 31, 2012 / 7:41 PM / in 5 years

UPDATE 1-Italy's Consob doubtful on Proto's pact in RCS

(Adds Proto comment, details, background)

MILAN, Oct 31 (Reuters) - Italian market watchdog Consob said on Wednesday that financier Alessandro Proto had not complied with requests for information on the group of shareholders he claims now controls 3.4 percent of 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 other information by a Wednesday deadline.

“We do not care about Consob’s opinion,” the Proto Organization responded in an e-mailed statement. “We will go on with or without the Consob’s comments that do not make any difference to us.”

Proto has said he leads a group of five investors that holds a 3.4 percent stake in RCS and last week said he had raised his offer for the Benetton family’s 5.1 percent stake in RCS.

Shares in RCS have been highly volatile recently, reacting to Proto’s announcement of stake building.

Reporting by Francesca Landini; Editing by Leslie Adler

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