Colao: “The development of the On line sector represents an opportunity for publishers. We have great confidence in the management of DADA, that will remain independent and listed. Great prospects for important teamwork”
Barberis: “RCS, means further development for DADA, a great opportunity to strengthen its strategic position in the world of web and mobile services”
Milan, 11 November 2005 – Following the purchase today by RCS MediaGroup of DADA shares that resulted in an increase of RCS’s stake in DADA of up to around 41.6% and, at the same time, the signing of a Shareholders’ Pact (as per Art. 122 of TUF - Testo Unico Finanziario – the relative financial statute) between RCS and DADA’s Managers/Shareholders, RCS Group’s CEO Vittorio Colao and the Chairman of DADA Paolo Barberis commented:
“DADA and its management - stated Vittorio Colao - are part of a group of professionals that have a solid vision of the development of On line and mobile publishing that is similar to ours. Their expertise and passion have allowed them to become on of the most effective sector players, not only in Italy.
“Our intention – continued Colao – is to maintain this group of entrepreneur’s independence and we, along with the expert management team, will jointly development new businesses. We can offer the support of a renowned international publishing group like RCS, with a vast portfolio of titles and important brands. We will begin the PTO formalities, with the idea, however, to maintain a part of the capital as market float.”
“The agreement with RCS - Paolo Barberis commented – represents a moment of fundamental importance for DADA, and is a further sign of appreciation for the results achieved in terms of strategic positioning and the performance reported in company financial statements. It is not by chance that this agreement comes at a time when DADA is a protagonist of prospective sector growth.
“RCS and DADA management will give life to an ambitious joint development project that includes the company which I founded and have chaired for ten years. Today DADA represents one of the most important Web communities.”