ProSiebenSat.1’s Nordic business could fetch between €1.3 billion to €1.5 billion, according to a note by Morgan Stanley that gives the German and European broadcast group a positive ‘Overweight’ rating.
Morgan Stanley estimates that the Nordic business could achieve EBITDA of €118 million this year. It said that a sale could boost ProSieben’s market value by 15%. Potential buyers for the business are believed to include Modern Times Group.
The bank expects that ProSieben will meet its above-consensus forecast for this year, with the fourth quarter expected to produce positive developments in the advertising business in Germany.
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