(Alliance News) - Arnoldo Mondadori Editore Spa announced Thursday that it has signed an agreement to sell its entire stake in Mediamond Spa, equal to 50 percent of the latter's capital, to Publitalia '80 Spa.

The stake is held by subsidiary Direct Channel Spa, and as a result of the transaction, Publitalia '80 will increase to 100 percent in Mediamond. Mondadori is to receive EUR1.4 million.

The sale of the stake is consistent with the Mondadori group's previously announced strategy of focusing on the book sector and gradually lightening its presence in business areas that are no longer central and, in particular, those most strongly related to advertising revenues.

Mondadori's stock closed Thursday down 1.0 percent at EUR2.10 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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