MILAN, May 30 (Reuters) - Fashion mogul Diego Della Valle, a shareholder with 8.7 percent of Italy’s RCS Mediagroup , said on Thursday he would vote against a rights issue needed to keep the loss-making publishing in business.
Diego Della Valle, the owner of luxury goods Tod‘s, is critical of the publisher’s turn-around plan and debt restructuring, said his representative at the meeting.
Shareholders at the company’s annual general meeting will cast their vote on a rights issue of 400 million euros needed to keep the publisher’s business running.
It was unclear whether the rights issue would have the votes needed to be approved.
Reporting By Claudia Cristoferi, writing by Stephen Jewkes, Editing by Jennifer Clark