PPF, an investment group owned by the Czech Republic’s wealthiest man Petr Kellner, is closing in on the acquisition of AT&T-owned Central European Media Enterprises (CME).
According to sources cited by Czech news site hlidacipes.org, the investment group is the last remaining bidder for CME.
CME was inherited by AT&T following its merger with Time Warner, and holds 75% of the company when factoring in preference shares. It is believed that AT&T is seeking CZK47 billion (€1.82 billion) for CME.
Both companies have declined to comment on the speculation.
PPF owns a variety of different assets, including O2 Czech Republic. A deal to acquire CME would be significant to the local market, with the broadcaster owning leading commercial network TV Nova.
CME operates channels in five central and eastern European countries, and launched a strategic review in March which said that sale of either the entirety or part of the company was a serious option in order to cut its debts – currently at US$633 million.
ICYMI: BCCI confirms September IPL restart digitaltveurope.com/2021/07/27/bcc… https://t.co/sheavM2VNZ
27 July 2021 @ 20:00:00 UTC
ICYMI; Former Technicolor exec Muylkens appointed MD at Zappware Belgium digitaltveurope.com/2021/07/27/for… https://t.co/GWYASi2gZZ
27 July 2021 @ 18:52:00 UTC
ICYMI: Amazon reportedly in talks with multiple Indian media and distribution companies to boost @PrimeVideo in cou… twitter.com/i/web/status/1…
27 July 2021 @ 18:30:00 UTC
Over 70 8K TVs certified by 8K Association as tech increases in popularity digitaltveurope.com/2021/07/27/ove… https://t.co/y1ZtRLe5vY
27 July 2021 @ 16:59:00 UTC
Russia’s Match TV picks up EPL rights in long-term deal digitaltveurope.com/2021/07/27/rus… https://t.co/ajg4NSyfYb
27 July 2021 @ 15:59:00 UTC
