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Prisa must launch bid for Media Capital at 8.29 - CMVM


Published :
Wed, 18 Apr 2007 06:56
By : Agencies
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LISBON (Thomson Financial) - Stock market regulator CMVM has ruled that Promotora de Informaciones SA must launch a bid for the 26.3 pct it does not own of Portuguese media group Grupo Media Capital SGPS at 8.29 eur per share, according to a statement posted on CMVM's web site.

The CMVM has denied Prisa's request to appoint an independent auditor to set the price for the second bid for the 22.2 mln shares of Media Capital which Prisa does not own.

The bid price corresponds to the average price of Media Capital shares for the last six months before Prisa's bid was announced. Prisa had requested that an independent auditor be appointed as it said it did not consider the price fair.

Prisa has now 10 days to launch its second bid for Media Capital.

luis.morais@thomson.com

lm/an

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