Bulgarian competition body rejects MTG sale of Nova Broadcasting to PPF

Nieuws Video Bulgarije 19 JUL 2018
Bulgarian competition body rejects MTG sale of Nova Broadcasting to PPF

Modern Times Group (MTG) said it's surprised by the Bulgarian Commission for Protection of Competition's rejection of the proposed sale of its 95 percent shareholding in Nova Broadcasting Group in Bulgaria to PPF Group, the investment company controlled by Petr Kellner. MTG said it will further review the decision before choosing what to do next in this matter. 

MTG announced the proposed sale earlier this year, saying it was in line with transformation form a traditional broadcaster into a global digital entertainer. The all-cash transaction implied an enterprise value of EUR 185 million. MTG wanted to invest the proceeds from the sale into its Nordic Entertainment, Studios and worldwide digital entertainment businesses.


Categories:

Video

Companies:

Nova,  Modern Times Group

Countries:

Bulgarije

Tags:

Broadcast, M&A buyouts & divestments

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