RCS stock suspended amid 20% drop ahead of board meeting

Group owns Corriere della Sera, Italy's largest daily

RCS stock suspended amid 20% drop ahead of board meeting

(ANSA) – Milan, September 10 – Media company RCS MediaGroup, owner of Italy's largest newspaper Corriere della Sera, was suspended amid a theoretical drop of 20% of its share price after declining for the fourth-straight trading session ahead of Tuesday's board meeting Italian stock-market watchdog Consob suspends the trading of stocks that oscillate more than 10% in a day's session. The RCS Mediagroup's board will meet to discuss stock options, sources said. However, the directors could also discuss a series of other outstanding issues that Chief Executive Office Pietro Scott Jovane has said would be addressed in the autumn. The stock had rallied starting the end of August before posting declines in the past four trading days.

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