andrea bonomi: Provisional data from Italy stock exchange showed that take-up of Cairo offer, which stood at just 22 percent of RCS capital on Thursday, more than doubled on the last day in which investors could tender their shares, according to Euro News. The bid by the rival consortium, which congratulated Cairo on his victory, reached 38 percent of capital. The battle over the publisher of Corriere della Sera, the country top-selling mainstream newspaper, has pitted most of Italy corporate establishment against Cairo, who made his fortune with magazines and now owns television channel La7. In an effort to stop Cairo from winning RCS, a group of long-standing shareholders in May teamed up with Investindustrial, the private equity fund of Andrea Bonomi, scion of a prominent Milanese industrial family. Corriere could have an important role to play as Italy approaches an October referendum on Prime Minister Matteo Renzi constitutional reform which could destabilise the government. The group comprised Mediobanca
, the merchant bank historically at the heart of Italy relationship capitalism, tyre maker Pirelli, insurer Unipol and Diego Della Valle, founder of luxury goods group Tod . Media ownership remains a powerful tool in Italy where newspapers still shape the debate in politics and business, despite a broader decline in public readership. (news.financializer.com). As reported in the news. Tagged under andrea bonomi, equity fund topics.