March 9, 2017 / 5:04 PM / 4 months ago

Italy gives conditional approval to L'Espresso and La Stampa merger

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ROME (Reuters) - Italy's Antitrust Authority on Thursday gave conditional approval to the merger of L'Espresso group ESPI.MI and La Stampa, publishers of three of the country's biggest newspapers.

L'Espresso, which controls Rome's La Repubblica newspaper, will have to sell its local advertising businesses in Genoa and Turin to an independent third party, the Antitrust said in a statement.

The deal allows Fiat Chrysler Automobiles (FCHA.MI) to quit the publishing business by shedding its controlling stake in Itedi, which controls Turin's La Stampa and Genoa's il Secolo XIX, and folding it into L'Espresso.

Reporting by Steve Scherer, editing by Isla Binnie

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