Media Capital chairman, partner opt to sell 11.6 pct stake to Prisa - report |
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Thu, 01 Feb 2007 08:50
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LISBON (AFX) - Media Capital SGPS chairman Miguel Pais do Amaral and his ally Nicolas Berggruen have decided to sell the 11.63 pct they hold in the Portuguese media group to Promotora de Informaciones SA, Journal de Negocios reported, without citing a source.According to Journal de Negocios, the chairman and his ally will sell the stake before Prisa's 7.40 eur per share bid for the company closes on February 5.Prisa owns 33 pct of Media Capital and launched a full bid for the remaining 67 pct it does not own ahead of a new Portuguese regulation which will oblige the company to bid at a higher price than the 7.4 eur the company is offering.Prisa has begun legal proceedings against the Portuguese government and the Portuguese stock market regulator over the new regulation.jonathan.gleave@thomson.comjg/anCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Media Capital chairman says second Prisa bid for MC is uncertain 