RCS bidder Investindustrial asked for more information on public offer by regulator
Investindustrial has been asked for more information on the public offer it is leading on RCS, the listed Italian media group, Italian language daily Il Sole 24 Ore reported. The report cited a statement by Consob, Italy's securities regulator.
The report noted that the request will increase the amount of time needed for the approval of Investindustrial's public offer prospectus. Consob's original examination of the prospectus was to have been completed by 4 June, it said.
Consob is expected to make a decision today 28 May on the rival public offer put forward by listed media group Cairo Communications, the report said.
RCS has a market cap of EUR 400m.
Il Sole 24 Ore