|
|
Article: Le Monde Staff OKs Recapitalization Plan
- Article from:
- AP Online
- Article date:
- March 8, 2005
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
|
LAURENCE FROST, AP Business Writer
AP Online
03-08-2005
Dateline: PARIS
Staff at the troubled French newspaper Le Monde voted Tuesday to approve plans to raise 65 million euros ($86 million) by selling stakes to investors, including the defense and media conglomerate Lagardere SA.
Under the plan, Lagardere will pay 25 million euros ($33 million) for 15 percent of Le Monde SA, publisher of the respected left-wing daily.
Grupo Prisa, which publishes Spanish newspaper El Pais, would contribute another 25 million euros for between 12.9 percent and 14.8 percent of the paper, according to the Madrid-based company, whose full name is Promotora de Informaciones SA.
Prisa said Monday that its ...