THE'October 11th the Engineer had sent Gedi a proposal "for the purchase of a 29.9% stake" and the October 15th had released an interview with Corriere della Sera in which he announced his will to "recover" The Republic and "give away the shares to a Foundation": "I understand that my children do not like the newspaper – the entrepreneur said – but they stop destroying it". An episode following which the president Marco De Benedetti, son of Carlo, had sent one letter to employees and the Board had issued a note to reassure them of the solidity of the group.
Today, a few hours before the press release, "all the directors of the Group" Cir, who controls Gedi, had defined "inadmissible"The" irrevocable proposal "by De Benedetti. This is stated in a note published after the dissemination of accounts of the first 9 months. The group closed the period with almost stable revenues 2.01 billion (they were 2.05 in 2018) and a declining net profit from 32.5 to 7.2 million.
The net result was affected by the devaluation of 7.7 million carried out by the subsidiary Gedi on the investment in Persidera in view of the disposal, the effect of the new accounting standards, for 2.6 million, and the non-recurring charges incurred for the merger with incorporation of Cir into Cofide. They are worth 20.3 million lost profit the fewer results of Sogefi and Gedi following the "unfavorable trend of the respective reference markets".
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