RTL to tender 33 pct stake in Portuguese media co Media Capital to Prisa |
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Published
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Fri, 02 Feb 2007 19:32
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LISBON (AFX) - RTL Group said it will tender its 33 pct stake in Portuguese media group Media Capital to Prisa for 206 mln eur.In a release posted on its web site, RTL said that it has acquired the stake over the last two-and-a-half years at an average price of less than 5.80 eur per share. The total cash investment made was about 161 mln eur, it said.In October, Prisa launched a takeover bid for 100 pct of Media Capital at 7.40 eur per share.Before the takeover bid, Prisa owned 33 pct of Media Capital.Media Capital's chairman Miguel Pais do Amaral said this week that he will sell his 11.6 pct stake in the company to Prisa, meaning the Spanish company will end up with at least 77.6 pct of Media Capital.Media Capital closed down 0.24 or 2.89 pct at 8.06.Press reports said that RTL still plans to stay involved in Portugal's media sector after the sale by buying a stake in Impresa.The reports sent Impresa surging. It closed up 0.11 eur or 2.19 pct at 5.13, off intra-day highs of 5.28 in early trade. Impresa denied talks with RTL.luis.morais@thomson.comlm/gpCOPYRIGHTCopyright 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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CORRECTION RTL Group declines comment on report about Media Capital stake sale 