Bertelsmann interested in greater stake in PRH
Bertelsmann chief executive Thomas Rabe has said he would ‘feel comfortable’ increasing the company’s stake in Penguin Random House (PRH) to 70-75% in the future, reports the Bookseller. Bertelsmann currently owns 53% of PRH, compared to Pearson’s 47%. According to a Reuters report on the company’s recent results announcement, Bertelsmann has been approached by several investors interested in participating in a deal to purchase Pearson’s stake in PRH. However, Rabe said he did not expect anything to happen this year. Pearson has reaffirmed its previous statement that any sale of its stake was ‘more likely to be a 2017 than a 2016 issue’.
Category: International news