Bertelsmann chief executive Thomas Rabe reiterated in an interview with Germany’s Der Spiegel the plan for Bertelsmann to buy only part of Pearson’s 47 percent stake in Penguin Random House, while looking to a financial partner to buy out the remainder. “I expect we will raise our stake to 70 or 75 percent as long as the conditions are right,” Rabe said again. In the January investor call when Pearson first announced its intention to issue an exit notice for the joint venture, cfo Coram Williams said in the q&a session that it was “up to Bertelsmann whether they acccept that notice. If […]
