Arnoldo Mondadori Editore S.p.A. has announced that, as per Art. 70 para 5 of the Consob regulation n. 11971/1999, information is available at the company’s headquarters, Borsa Italiana S.p.A. and on the web site www.mondadori.it, outlining the plan to merge, by incorporation into Arnoldo Mondadori Editore S.p.A., the wholly-owned subsidiary Fied S.p.A. together with other documentation foreseen by Art. 2501 septies n. 3) of the civil code.
In fact the activities of Fied S.p.A. are exclusively limited to the management of a 7.99% stake in Società Europea di Edizioni S.p.A., the publisher of the daily newspaper ‘il Giornale’, of which Mondadori has an overall stake, held either directly and indirectly, of 39.27% of the share capital (including the Fied stake).
Consequently, the aim of the operation is the organisational and administrative rationalisation and the simplification of the corporate structure through the elimination of the company to be incorporated, with a consequent reduction in administrative costs.
As per Art. 2505 para. 2 of the civil code, resolutions concerning the merger by the incorporating company Arnoldo Mondadori Editore S.p.A. will be adopted, within the terms established by law, by the board of directors.