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‘to grow the majority of Urbano Cairo within RCS . The entrepreneur who defeated with 48.8% the chain led by Andrea Bonomi and the historical shareholders ( Diego Della Valle, Mediobanca, Pirelli and UnipolSai ) of the publishing group may touch the 62% stake who publishes the Corriere della Sera. To control there will be no war, as it was feared the eve: the surrender of the defeated, the opa to a euro stopped at 37.7% of acceptances, it is full of fair play : “the condition is not fulfilled the minimum amount” and therefore the offer “is considered to be ineffective.” Lapsed the opa, who has accepted the offer defeat (must be subtracted from the 24.7% in the seller’s hands), ie 12.9% of the capital of RCS, the publisher may decide to deliver the La7 actions or take them back.
choice July 22 to 28 , only after Consob (July 21) will have released the official results. Depending on the membership of the cash outlay for Cairo (opas the expected exchange ratio of 0.18 plus 25 cents cash shares) will vary from nearly 65 million to a maximum of 80.6 million. For the part of the offer in securities, instead, in the Cairo Communication controlling stake will be diluted – between 47,91% and 52,7% – but it reassures the publisher who will remain above the absolute majority threshold. Cairo Group is able to bear the expense, “We have sufficient cash to pay the cash portion” and the group can count on funding from 140 million Intesa Sanpaolo. Regarding the entry of a new investor, precise Cairo that “at present there is this hypothesis. We deliberate a capital increase of 70 million that can be realized within a year. At the moment there it’s needed. “
the goal now is to change the board and enter into RCS. “I’ll be in the front line – promises -. What I want to do is have all the delegations.” No indication at the time, of what will be the composition of the new board of directors. “We have not thought about anything,” says the editor of La7. Friday, July 22 will have control of 48.8% of RCS, 22-28 losers shareholders will be able to ‘migrate’ to the takeover and August 4 will be the payment of the bonds into shares and cash. Already strong in his Cairo share could put pressure, but noted that “the convocation of the shareholders of RCS is up to the president of the company, Maurizio Costa. We will see what will be the time.”
The relationship with the losers – “look of the fellow travelers”, adds – “I always said that I’m glad if shareholders remain, for me there is all the desire to be collaborative with all partners . I have no problems with anyone, Bonomi has conceded defeat, for me the real issue is to quickly manage this company in the best possible way to make the most of the resources they have tremendous potential. ” So many choices that the publisher would not do: “ The Books I would never sold them, I would keep the radio, as well as the home “, he remarks. “Transforming the Corriere della Sera in a tabloid would be the craziest thing,” replies to those who argue that there is in his plans to turn the newspaper into a sort of ‘the Sun’.
“what matters is not to disappoint your audience. the newspaper should be handled with care, let alone change it as well. what I do is that fewer people realize that I got better is”. No revolution in the policy and publishing, then. “The Fontana director is a good director, knows the Courier knows the car and is doing a good level of newspaper .” In the future Via Solferino there are synergies with La7, but also investment and a lot of work on costs, as well as for the BBC. A publishing revolution, but not until after that for decades the RCS control remained in the hands of so-called ‘parlor’. A victory that carries the signature, as well as the publisher of La7, Gaetano Micciche CEO of Intesa Sanpaolo and Banca IMI president, the Bonelli Erede, Equita SIM and expert Massimo Ferrari, the current CEO and CFO of Salini Impregilo.
the victory of Cairo, despite expectations, was not measured. The market, from international funds and small shareholders, has chosen the discontinuity. The result was “very positive, beyond the most optimistic expectations,” remarked the entrepreneur Alexandrian and has seen membership of the funds that “could not imagine”, between those notes Nextam, Antares, Ersel and Schroders . As for Rotelli family that has only given half of its share (the other half of the 3,486% is over Bonomi), he had a “Solomonic” attitude to that of Cairo. “Silvio Berlusconi and Fininvest have had, directly or indirectly, to do with the opas RCS or the Cairo Communication” group, replication to a shareholder in the extraordinary meeting of the group.
the contention of RCS, reveals the entrepreneur Alexandrian “sparked in people I met down the street or in a cafe a visceral involvement, I do not know if it’s because people want change. I stopped to tell me that were rooting for me” . Now it’s time to work and do not betray those who chose him: “I have given the willingness to give up holidays, before it begins – ends – the better.” Meanwhile, in Square Business , after it failed to support the takeover, the stock RCS ended the session sharply lower (-3.19% to 0.91 euro per share). Down even the actions of the victorious Cairo Communication (-5.95%).
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