DIEGO BOWS OUT: Tod’s chief Diego Della Valle was once again in the news section of Italian dailies on Tuesday. The entrepreneur has exited Italy’s giant merchant bank Mediobanca. Della Valle, who held a 0.48 percent stake, plus a 1.42 percent option that could have been exercised by Dec. 20 2012, had repeatedly voiced his interest in further increasing his shares in Mediobanca. This institution is regulated by a tight shareholder pact that made Della Valle’s goal hard to achieve. Given the diversified portfolio of Della Valle’s investments, ranging from fashion to media, sports to manufacturing to transportation, including Saks Inc. and furniture producer Poltrona Frau, the jury is out now to see what the entrepreneur will turn to. Sources here speculate that Della Valle could be eyeing a wider stake in RCS MediaGroup, which owns the newspaper Corriere della Sera.
October 4, 2011