Lion's share of RCS's capital increase subscribed to

Remaining 15% of rights issue to be sold on market from July 10

Lion's share of RCS's capital increase subscribed to

Milan, July 5 - The 400-million-euro capital increase reserved for existing shareholders of Italian publishing company RCS, owner of national dailies Corriere della Sera and La Gazzetta dello Sport as well as other media companies, has been underwritten for 85% of the total, according to financial sources. The remaining 15% that went unsubscribed as part of the rights issue will be sold directly on the Italian stock market during the course of five trading sessions starting from Wednesday. The company has been forced to raise fresh funds due to difficulties it has faced in recent years in the media and publishing sector. Leading shareholders in the company include Fiat, Pirelli, merchant bank Mediobanca, fashion entrepreneur Diego Della Valle - who owns a controlling stake in luxury-goods maker Tod's - and the Benetton family.

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