STOCKWATCH Impresa surges after rumours RTL eying company |
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Fri, 02 Feb 2007 09:54
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LISBON (AFX) - Shares in Impresa SGPS were sharply higher in early deals as brokers cited rumours that RTL Group plans to sell its 33 pct of Grupo Media Capital SGPS and acquire a stake in the Portuguese media group, dealers said.At 8.29 am, Impresa shares were up 0.21 eur or 3.98 pct at 5.23. The PSI 20 index was up 18.67 points at 11,645.26.'Rumours that RTL could sell its stake in Media Capital to buy into Impresa are fuelling sharp gains in the share price,' a Lisbon-based trader said.'Impresa has underperformed over the past few years and is one of the cheapest media plays in Europe, so you could also argue it was due a bounce,' he added.This morning, Journal de Negocios reported the rumour that RTL sell its 33 pct of Media Capital to Promotora de Informaciones SA's 7.4 eur per share bid, but plans to remain in the Portuguese media sector, eyeing a stake in Impresa SGPS.The idea that RTL will sell out to Prisa was supported yesterday by reports that Media Capital Miguel Pais do Amaral and his ally Nicolas Berggruen have decided to sell the 11.63 pct they hold in the group to Prisa making a competing bid from RTL unlikely.jonathan.gleave@thomson.comjg/jfr/jg/jfrCOPYRIGHTCopyright 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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Impresa acquires 67 pct stake in New Media Digital Contents for 474 mln eur 