Italy’s businessman Carlo De Benedetti seeks relaunch of GEDI: press

MILAN (Reuters) – Carlo De Benedetti plans a two-stage operation to relaunch publisher GEDI by “heavily” investing in digital, the veteran Italian businessman said in an interview with daily Corriere della Sera published on Tuesday.

Shares in GEDI – which publishes daily newspapers La Repubblica and La Stampa – rose almost 16% on Monday after De Benedetti offered to buy a 30% stake in the group he chaired for 10 years from his three sons, who control it through holding company CIR , but was rebuffed.

“First we need to straighten out the company’s management,” he said. A subsequent step would see him “handing my shares to a foundation, convincing other shareholders to do the same,” he told Corriere.

(Reporting by Giulio Piovaccari; editing by James Mackenzie)