Cairo Communications improves public offer for RCS by 33%
Cairo Communications said in a press release that it has boosted its public offer for rival Italian media group RCS from 0.12 Cairo Communication shares for each RCS share to 0.16. Cairo noted that this is a 33% increase and boosts the monetary amount of the offer to EUR 0.69 an RCS share.
Cairo also noted that it is putting forward an industrial plan that will lead to a merger between the two groups in the next 1-2 years.
An item in Il Sole 24 Ore noted that RCS shares are presently trading at EUR 0.69 a share.
RCS has a market cap of EUR 408m.
The Cairo Communication press release in Italian can be found here