Assault on continuation: PPF relaunches the problem with a proposal for 7 euros | EUROtoday

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The recreation on the German Broadcaster continuation is enriched with a brand new, shocking chapter. After the provide superior by MFE-MediaForeurope, it’s the Czech PPF group that drops the ace with a partial Op personal on continuation. 1 for 7 euros per share. The market applauded the transfer with enthusiasm: in Frankfurt, the title of the German TV has marked the flight, touching a leap of 18% and even exceeding the worth of the provide.

The PPF offensive doesn’t go unnoticed. With a wholly money provide, which ensures a 17% prize in comparison with the closing of final Friday and 21% on the implicit worth of the MFE provide, the group led by Jirí Smejc goals straight at 29.99% of the capital, stopping a breath earlier than the edge that might impose a totalitarian opa. A blow that doesn’t intention to overcome management, however guarantees a extra incisive position within the surveillance council of German society.

And I discover it? It welcomes the provide with open arms. In an official word, the board expressed appreciation for the lengthy -term strategic method of the Czech group, praising its “surcharge” and “support for corporate strategy”. In brief, between the strains we learn nearly an invite to proceed.

PPF, already in response to higher shareholder with 15%, needs to strengthen his affect, however with out clamor: “We do not want to take control”, explains Smejc, “but contribute active and constructively to the transformation of Cereeben”. A transfer to supply shareholders a “safe and immediate” outlet in money, avoiding the dangers of a protracted restructuring course of.

Now it will likely be mandatory to attend for the MFE counter -move. The group led by Pier Silvio Berlusconi had already launched its personal combined provide – half in money, begins in shares – evaluating each title continues simply 5.74 euros. Now, with the relaunch of PPF, the sport turns into powerful. And the conquest of continuation turns into an actual chess recreation.