Bertelsmann 'eyes 70-75% stake in PRH'

Bertelsmann 'eyes 70-75% stake in PRH'

Bertelsmann chief executive Thomas Rabe has said he would "feel comfortable" owning between 70-75% of Penguin Random House in the future.

According to a Reuters report from Berlin, where the German company held a press conference this morning (22nd March) to announce its 2015 results, Rabe said he did not expect anything to happen this year, but that Bertelsmann had been approached by a number of investors who would be interested in participating in a deal to buy Pearson's stake (47% to Bertelsmann's 53%) should Pearson decide to sell.

Pearson said its position had not changed since c.e.o. John Fallon said last November that a sale or reduction in Pearson's stake was "more likely to be a 2017 than a 2016 issue".  

Penguin Random House proved an asset to Bertelsmann in 2015, with its 11.8% global revenue rise helping its parent company to 2.8% growth across the year.