Rothschild seeks 37 pct stake in Liberation

3rd December 2004, Comments 0 comments

PARIS, Dec 2 (AFP) - French businessman Edouard de Rothschild is seeking up to a 37 percent stake in the centre-left daily Liberation, but employees would keep their blocking voting rights, Liberation chief editor Serge July reportedly said Thursday at a staff meeting.

PARIS, Dec 2 (AFP) - French businessman Edouard de Rothschild is seeking up to a 37 percent stake in the centre-left daily Liberation, but employees would keep their blocking voting rights, Liberation chief editor Serge July reportedly said Thursday at a staff meeting.

July, who founded the centre-left daily three decades ago with the support of philosopher Jean-Paul Sartre, said that as part of Rothschild's proposal, he would remain editor-in-chief until 2012, according to participants at the staff meeting.

Rothschild was prepared to pay EUR 20 million (USD 26.5 million) for as much as 37 percent of the outstanding shares, they said.

The management of Liberation could not be immediately contacted by AFP.

Rothschild had said in an interview Monday with the conservative daily Le Figaro he wanted a major stake in Liberation, to make it the driving force of a diversified press group he plans to build. He also pledged to preserve Liberation's independence.

© AFP

Subject: French News

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