October 28, 2019 / 11:21 AM / a month ago

Agnelli family's holding does not plan to sell GEDI stake for now: sources

MILAN (Reuters) - Exor (EXOR.MI), the holding company of the Agnelli family, has no plan to sell its 5.99% stake in Italian publisher GEDI (GEDI.MI), two sources familiar with the matter said on Monday.

GEDI, which publishes prominent newspapers La Repubblica and La Stampa, is at the center of a battle for control between members of the De Benedetti family, which has a 43.8% stake in the group through their holding CIR (CIRX.MI).

“Exor is not a seller for now,” one of the sources said.

Earlier this month Marco and Rodolfo De Benedetti rebuffed an offer from their father Carlo, a veteran of the Italian business scene, to buy a 29.9% stake in the publisher.

Carlo’s offer was coupled with a blistering attack on his sons, who have run GEDI for the past seven years.

Reporting by Giancarlo Navach and Giulio Piovaccari, editing by Silvia Aloisi

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