Mondadori in exclusive talks with Emap |
|
|
Published
:
Mon, 12 Jun 2006 11:05
|
LONDON - Italian media empire Mondadori is in exclusive talks to acquire the French magazine business division of Britain's EMap PLC. EMap said that it expected the sale to be completed by September, which is the end of the first six months of its current financial year ending March 2007.
“Emap announces that it has entered into exclusive negotiations with Arnoldo Mondadori Editore in relation to the sale of Emap France, its French Consumer Magazines business,” said the company. As per the applicable French employment law, the group said that it would initiate a consultation process with the workers' councils of Emap France.
The Sunday Times reported that EMap has told that it wants £400 million on the division. This business includes a wide range of magazines like television-listings title Tele Star as well as a version of Closer, the women’s magazine. Other groups like Gruner & Jahr and RCS and a joint offer from Apax and Carlyle are also interested in acquiring EMap's French division. French newspapers reported that RCS Mediagroup is also in the race for France's third-largest magazine publisher.
Mondadori is controlled by the family business of former Italian Premier Silvio Berlusconi.
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1384.35 |
+68.23 (
5.07 %)
|
| SYMBOL (
2008-11-21 ) |
| LAST |
CHANGE
|
|
RIO TINTO
(
11:29am )
|
|
2100.00 |
+78.00 (
3.72 %)
|
| SYMBOL (
2008-11-21 )
|
| LAST |
CHANGE
|
|
IBM
(
4:01pm ) |
|
74.88 |
+3.14 (
4.32 %)
|
| SYMBOL (
2008-11-21 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Emap acquires Scottish Radio Holdings for £391 million 