Banco Popolare (BP.MI) said Monday it had reached a new agreement regarding the sale of part of its stake in Italian media company RCS Mediagroup SpA (RCS.MI) to Italian holding company Pandette Finanziaria.

Pandette Finanziaria is controlled by Italian businessman Giuseppe Rotelli.

Under the new accord, the option to sell 18.3 million ordinary RCS Mediagroup shares expiring March 3, 2009 to Pandette will remain in place, while the option to sell 25.3 million more shares will be extended for five more years.

The agreement was handled by Giuseppe Lombardi.

-By Jennifer Clark, Dow Jones Newswires; 39 02 58 21 9904; jennifer.clark@dowjones.com
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