RCS has offered EUR1.1 billion for Recoletos, which has press, radio, TV and online interests. It publishes the daily sports paper Marca, the financial daily Expansion, the magazines Telva and Actualidad Economica and has a 27.7 per cent stake in Verona Television.
RCS already owns 96 per cent of Unidesa, the publisher of El Mundo. The deal will not include the freesheet Que!, which Recoletos' shareholders will keep, along with Grupo Godo, which owns 30 per cent of it. The deal will be completed within two months, subject to regulatory approval.