|
|
Article: Le Monde journalists approve recapitalization plan
- Article from:
- AP Worldstream
- Article date:
- March 9, 2005
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
|
LAURENCE FROST, AP Business Writer
AP Worldstream
03-09-2005
Dateline: PARIS
Staff at Le Monde voted to approve plans to raise up to euro65 million (US$86 million) for the troubled French newspaper by selling major stakes to investors including defense-to-media group Lagardere SA.
Marie-Beatrice Baudet, president of the SRM staff holding that is currently the paper's largest shareholder, said the plans won 63.5 percent of votes cast on Tuesday, on a turnout she described as strong.
According to the plan approved by the staff, Lagardere would pay euro25 million (US$33 million) for 15 percent of Le Monde SA, publisher of the respected left-wing daily.
Grupo Prisa, which publishes Spanish ...