L'Espresso, which publishes top
Italian daily La Repubblica and weekly L'Espresso, and FCA's
Itedi, which owns newspapers La Stampa and Secolo XIX, signed an
agreement on Monday to combine their businesses, following a
March 2 memorandum of understanding.
Italian holding company CIR will hold 43.4% capital in the
new combined Espresso Group, FCA will hole 14.63%, and Carlo
Perrone's Ital Press will hold 4.37%.
FCA will subsequently distribute its entire equity to
holders of its common stock, which will result in Agnelli
investment company Exor receiving 4.26%.
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