Bonomi promises more money for RCS – Il Giornale

Massimo Restelli

Arrayed their equity armies and revealed the tactical plans in the prospectuses, tomorrow in Piazza Affari with the PAHO launch of Urbano Cairo began the real battle against Andrea Bonomi for the RCS control . And the battle that will decide the new boss of the BBC could not be more uncertain.

The latest confirmation is in the tender offer statement promoted by Bonomi (70 cents in cash): the financier Milan – who has formed an alliance with the historical shareholders Mediobanca, Pirelli, Unipol and Diego Della Valle creating the new company international Media Holding – not only promises to make additional investments of RCS a pole “international media” but “reserves” of “waive the condition” previously set to raise at least 66.7% of the capital. Provided, however, to reach “the threshold of 30% plus one share of RCS ‘. In essence they are holding a blocking minority, and then to manage the shareholders’ meeting and inhibit any extraordinary transactions promoted by the opponent Cairo: since Bonomi & amp; C are currently holders of approximately 22.6% of RCS, the Opa must earn at least another 7.4%. The invitation to specify the threshold would be leaving by Consob.

For its part, the publisher of La7, offering to exchange 0.12 shares of its Cairo Communication for each title RCS and wants to collect at least 35% of the capital, tomorrow will be engaged in road show explain their project to institutional investors. Then he will have to decide how to proceed: to the Issuer Regulation, Cairo has in fact have until Friday, June 17 for a possible re-launch the OPS, which will close on 8 July. In turn Bonomi will revise its offer up to five days before the deadline, set for July 15.

Of course, the stock market is expecting a raise by both sides: Friday in Piazza Affari, RCS ended the session at 77 cents, well then both the 70 cents in cash provided by Bonomi both 54 cent of the implied value of the stock swap studied from Cairo (4.5 euro closing Com Cairo in Business Square). Also on Friday the RCS Board of Directors he has also assessed the incongruous Ops Cairo, specifying that according to experts, the average value of the share is 95 cents. The verdict of the board of Bonomi is expected by Friday the 17th.

But back to the planned investment from the front of the International Media Holding. Bonomi and allies, says the report, are available if you ask the advice of RCS led by Laura Cioli, “to consider investing more resources”, additional 150 million capital increase announced. The goal is also growing through acquisitions. “Fundamental”, therefore, “a major investment policy, which will place targeted not only the Spanish-speaking countries but also English speakers, with a special interest in the” world of sports “and news, in addition to” development of editorial content focused on the made in Italy. ” Finally, with regard to the employment front, the offer does not include operations’ may have additional effects on the labor force than envisaged by the plan RCS 2016-2018. “