Mediobanca Banca di Credito Finanziario SpA,, PIRELLI & C. Società per Azioni, UnipolSai Investimenti Sgr and Diego Della Valle made an offer to acquire remaining 77.4% stake in RCS MediaGroup S.p.A. (BIT:RCS) for approximately €280 million on May 16, 2016. The buyers will channel their total stake of 22.6% into the new company that will launch a tender offer on the remaining 77.4% stake in RCS at a price of €0.70 in cash, including debt. The offer is made for 403.9 million shares. As on June 10, 2016, Consob has given approval to the prospectus of a takeover bid on RCS MediaGroup by Investindustrial and some RCS investors. The offer will be open from June 20, 2016 to July 15, 2016. As of May 27, 2016, Consob has requested for additional information from the offers' regarding suspension of the terms until the completion of the information framework. As on June 25, 2016, the offer per share was increased to €0.80. As of July 6, 2016, Antitrust Authority approved the transaction. As of July 8, 2016, the bid price was increased from €0.8 to €1.
Alberta Figari, Stefano Parrocchetti, Francesca Casini, Luca Piacentini, Ferdinando Poscio, Chiara Commis and Luciano Di Via of Clifford Chance acted as legal advisor for the buyers. Augusto Santoro, Bernadetta Troisi and Alessandro Capogrosso of Simmons & Simmons acted as legal advisors for Diego Della Valle while Francesco Gianni, Andrea Aiello, Andrea Dardano and Ludovica Di Paolo Antonio of Gianni Origoni Grippo Cappelli acted for Pirelli. Citi Group, Inc. acted as financial advisor for RCS mediagroup. Mediobanca SpA acted as financial advisor for the buyers.

Mediobanca Banca di Credito Finanziario SpA,, PIRELLI & C. Società per Azioni, UnipolSai Investimenti Sgr and Diego Della Valle completed the acquisition of an additional 13% stake in RCS MediaGroup S.p.A. (BIT:RCS) for approximately €67.8 million on July 15, 2016.