March 29, 2018 / 7:49 AM / a year ago

Shares in Italy's Gedi jump after report of France's Niel interest

MILAN, March 29 (Reuters) - Shares in Italian publisher Gedi Gruppo Editoriale rose sharply on Thursday after a media report French entrepreneur Xavier Niel was interested in the company.

Daily MF, citing the Dagospia website, said Niel was working on a plan to strengthen his publishing business by merging it with Gedi.

Niel, the founder of telecoms company Iliad, is a co-owner of France’s influential le Monde newspaper and of several magazines.

Gedi did not comment. A spokeswoman for Iliad declined to comment immediately.

Shares in Gedi, whose main shareholder is the CIR holding of the De Benedetti family, were up 7.8 percent at 0743 GMT. (Reporting by Stephen Jewkes, additional reporting by Massimo Gaia in Milan and Richard Lough in Paris)

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