MILAN, March 14 Il Sole 24 Ore Chief Executive
Franco Moscetti said on Tuesday that the planned capital
increase for Italy's top financial newspaper would be closer to
50 million euros ($53.18 million) than 100 million euros.
Moscetti said the paper, controlled by Italian employers
association Confindustria, had ruled out a debt-to-equity
conversion which he said lenders would reject, adding that he
would seek an extension to a debt moratorium.
He made the comments on the margins of a conference in Rome.
The newspaper said on Monday it had put its editor Roberto
Napoletano on unpaid leave of absence after it emerged last week
he was being investigated for allegedly issuing false corporate
The company probably will not hold a board meeting on
Thursday, as had been expected, over ways to bolster its balance
sheet because Moscetti said he had "not had time to speak to the
banks, and their support to the plan is needed".
($1 = 0.9403 euros)
(Reporting by Claudia Cristoferi, writing by Steve Scherer)