Clessidra Drops Plans for Dada Bid

Private equity fund Clessidra is dropping plans to bid on RCS MediaGroup's $50-million-stake in Italian Internet company Dada, Reuters reported. RCS, the publisher of Italian newspaper Corriere della Sera, started due diligence on its 50.7 percent Dada stake in October, Reuters wrote. The Carlyle Group is rumored to be interested in the Dada stake, as are Germany's United Internet and France's Digital Virgo, Reuters reported.

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