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RCS MediaGroup S.p.A. (RCS.MI)

Milan - Milan Delayed price. Currency in EUR
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0.6830+0.0020 (+0.29%)
As of 3:19PM CEST. Market open.
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  • Reuters

    RCS says no risk provisions needed for Blackstone property dispute

    The board of RCS MediaGroup decided on Friday not to set aside provisions for legal risks related to the litigation with Blackstone over the sale of the Italian publisher's headquarters in central Milan. "Having obtained updated valuations of its legal advisors, (RCS) has decided that the conditions for the recording of provisions for risks do not exist," the company said in its first-half results statement. Last month, Blackstone requested a court in New York to merge two lawsuits related to the disputed property sale, while seeking damages for more than $600 million from the Italian company.

  • Reuters

    Shares in Italy's RCS, controlling firm fall after tribunal ruling

    MILAN (Reuters) -Shares in Italian publisher RCS and its controlling investor Italy's Cairo Communication fell on Monday after an arbitration tribunal ruled in favour of Blackstone over the disputed sale of the RCS headquarters. RCS launched arbitration proceedings in late 2018 to nullify the 2013 sale of its historic headquarters in central Milan to Blackstone, saying the U.S. investment firm had paid too low a price at a time when RCS faced financial difficulties. The Milan tribunal rejected all claims advanced by RCS on Friday, a court document seen by Reuters showed.