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RCS shares rise on hopes core investors to subscribe cap hike
April 9, 2013 / 7:50 AM / 5 years ago

RCS shares rise on hopes core investors to subscribe cap hike

MILAN, April 9 (Reuters) - Shares in RCS MediaGroup (RCSM.MI) rose more than 5 percent in early trading on Tuesday on hopes the group of investors controlling the debt-ridden publisher would subscribe to a planned rights issue.

Il Sole 24 Ore said on Tuesday the shareholder pact controlling 58 percent of RCS was set to give its go ahead to a 400 million euro recapitalisation by the end of the week.

On Monday, RCS investor Giampiero Pesenti said he did not expect the pact to be dissolved before it expires in 2014 as RCS goes ahead with plans for the rights issue.

(Reporting By Danilo Masoni; Editing by Lisa Jucca)

(( Messaging: Keywords: RCSMEDIAGROUP/SHARES

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