The World: Orange confirms Prisa plays shows
One after the other, the candidates for the resumption of the World out of the wood. After the unexpected arrival of Orange Tuesday night, Wednesday was the turn of the Spanish group Prisa, a faithful shareholder of the World, which holds 15.01% stake, confirmed its commitment to the French press group after several weeks of silence. In a letter to members of the Supervisory Board and Executive Board and World unveiled by Les Echos, CEO Juan Luis Cebrian, "reaffirms" the "intent to participate alone or with industry partners internationally renowned for recapitalization "of the group. But the Spanish boss believes that "only a thorough audit of the group may enable candidates to refine the position estimate needs to recapitalize the World. And therefore request the postponement of the deadline to Friday, 19 hours to lay a firm offer of recovery.
"A reasonable period until the end of September, should be open to all candidates currently being declared or declare themselves to deepen their audits, discussions with management of group and set them in a position to file ( …) a firm offer, "says the CEO. The group Prisa, which is currently in debt of more than 3 billion is currently carrying out a recapitalization. To save time, Juan Luis Cebrian calls for "reimbursable advances to meet" the urgent need of cash to its World recapitalization.
The World available in the morning
This has to speak, of course, nothing trivial. It comes the same day of the deadline set by the board of the World Bank, Crédit Agricole CIB to candidates to file their préoffres.Without really préoffre, Prisa boss makes it clear his intentions for Le Monde that he wanted to "expand the supply" and "give it to read every day, morning, Monday to Sunday, basing on synergies between the titles of his group (El Pais, head).
At the same time, the trio led by the businessman Matthew Pigasse, Niel and PBA filed a letter of intent listing his commitments and his plans for the group (recapitalization of 80 to 100 million euros charter governance, creation of an ethics committee …). Highly anticipated also a group préoffre Nouvel Observateur had to be filed Wednesday in the day. Is it backed by a partner like Orange, as seemed to think the discussions initiated between the two groups on Tuesday? It was difficult to see clear Wednesday.Alongside its general assembly, the new CEO of Orange, Stéphane Richard, has explained his plan to enter the capital of the world. "Some candidates have asked to be a minority partner, it is not a takeover," he said. This partnership would make sense in his eyes as if the result is "mutual benefits" for both groups. "The Orange could accompany the transition to Digital World", focusing on the Internet subsidiary of the group, Le Monde Interactif.
If Orange confirms his love for Le Monde, other applicants have chosen them to withdraw from the race. After the Swiss group Ringier Tuesday morning, the Italian group L'Espresso has officially given up yesterday to make a takeover bid of the group.
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