Rcs: Rotelli and Pesenti up, Cairo down?
Facts, numbers, rumors and scenarios on RCS
The Rotelli and Pesenti families are about to join the Rcs shareholding of Urbano Cairo which is destined to go below 50% of the shareholder base.
This is what has been rumored for days in Milanese financial circles aware of the RCS dossier.
Days ago Stefano Cingolani sul Foglio asked himself about Rotelli "if it is the right time to resume editorial adventures" like the one in RCS: "Giuseppe, the Milanese healthcare entrepreneur with the San Donato group, had become the number one shareholder of He ran with 16 percent. After his death in 2013, the young sons Paolo, Marco and Giulia are universal heirs. In 2019 the former minister Angelino Alfano was appointed president while Federico Ghizzoni, former CEO of Unicredit, joined the board. The pandemic had heavy effects: according to the Republic, it would have lost 50 million euros despite the refreshments. The Papiniano SpA holding company, which in 2020 had 140 million in cash, will have to plug the hole ”, wrote Cingolani.
The Pesenti family, through its financial company, in harmony with the Rotelli heirs, is also having the financial architecture of the RCS operation studied.
Should the entry go through, the current strong shareholder Urbano Cairo – who is president and CEO of the group that publishes Corriere della Sera – would drop below 50% in the shareholding structure compared to the current 59.8%.
But Pesenti and Rotelli would be two healthy supports for Cairo to also guarantee support in the financial circles that count in Milan, such as banks, primarily Intesa Sanpaolo: a relationship – that between Cairo and the Intesa group – that was not idyllic in the Blackstone case ( here the in-depth analysis of Start a while ago ).
Although grappling with the potential aftermath of the Blackstone case , after the latest negative news for Cairo , and the intervention of Consob , the group rejoices: o Audiweb results would place the group's publications at the very top of the Italian online market also in March of this year. According to a note released by the top management of RCS-Cairo, the group has positioned itself as "the third operator in the Internet market with 34.5 million unique monthly users at the publishing group level". Behind only the giants "of the great Ott platforms".
Urban Cairo rejoiced. The publisher commented on the data for March. “They confirm the absolute leadership of Corriere della Sera, the first Italian newspaper also on newsstands, and, for the second consecutive year, of our entire publishing group”. And so. "An important recognition of the authority of all our publications and of La7 and of the incessant unanimous effort of the editorial staff and the company to offer increasingly widespread information coverage, from major international inquiries to local news". Finally he added. "The new channels of corriere.it from today online and the opportunity offered to Corriere della Sera subscribers, thanks to the exclusive partnership with the Financial Times , are further proof of this".
But other news, this time in the shareholding structure and consequently in the governance of RCS, are on the horizon.
(article being updated)
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/rcs-rotelli-e-pesenti-su-cairo-giu/ on Fri, 25 Jun 2021 10:32:25 +0000.