RCS shares rise on market chatter of possible third bidder
RCS, the listed Italian media group, saw its shares rise on market rumours that a third bidder could come forward, Il Sole 24 Ore reported. The markets believe that Italmobiliare, the listed Italian financial services group owned by the Pesenti family, could put forward a bid, the Italian-language daily noted.
RCS is presently the subject of two public offers, one from listed Italian media group Cairo Communications and the other a consortium made up of private equity firm Investindustrial and a group of leading RCS shareholders, the report also noted.
RCS shares are presently trading above the price of both public offers at EUR 0.732 a share, the report added.
RCS has a market cap of EUR 383m.
Il Sole 24 Ore