Courbit-led group offers 20 euros a share for M6 stake - Bloomberg News
Reuters
Published Sep 25, 2022 10:10AM ET
Updated Sep 25, 2022 10:30AM ET
(Reuters) - French media mogul Stephane Courbit and his investor partners are said to have offered 20 euros ($19) a share for Bertelsmann SE & Co.'s stake in television company Groupe M6, Bloomberg News reported on Sunday.
The offer is a 39% premium to Friday's closing price of 14.43 euros per share, and values the 48% stake around 1.22 billion euros.
Czech billionaire Daniel Kretinsky also made an offer for the stake, the report said, citing a person familiar with the matter.
Reuters could not immediately reach Courbit for comment. RTL declined comment while M6 did not immediately respond to a request for comment.
Reuters reported last week that a consortium of high-profile French entrepreneurs including billionaire Rodolphe Saade, Courbit of TV production group Banijay and investor Marc Ladreit de Lacharriere was in pole position to clinch a deal.
Italian broadcaster MediaForEurope, meanwhile, joined forces with French billionaire Xavier Niel to submit a non-binding offer for a controlling stake in M6, two sources familiar with the matter said on Friday.
In March 2021, when Bertelsmann confirmed talks to sell its stake, French media reported that RTL's stake was worth 1.5 billion euros ($1.48 billion), valuing all of M6 at about 3 billion euros.
Initial cash offers for RTL's 48.3% stake in M6 were expected by last Friday afternoon after a planned tie-up between the company and fellow French broadcaster TF1 collapsed the previous week.
($1 = 1.0320 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.