Initial offers for RTL’s M6 stake due Friday after failed TF1 deal -source

By Klaus Lauer

BERLIN/FRANKFURT (Reuters) – Preliminary affords for RTL’s 48% stake in French TV channel M6 are anticipated by Friday after a failed tie-up with France’s TF1 broadcaster, an individual acquainted with the matter stated.

RTL and its German mother or father Bertelsmann declined to touch upon when preliminary affords had been due for the holding in M6, whose shares had been up round 5% at 13.18 euros by 1224 GMT.

RTL has been “inundated” with expressions of curiosity within the M6 ​​stake since TF1 and M6 known as off their deliberate merger final week, its boss Thomas Rabe instructed the Monetary Instances on Thursday.

“Because of this we’re testing the market,” Rabe, who can be CEO of Bertelsmann, was quoted as saying by the FT.

“On the premise of this take a look at we are going to resolve whether or not to promote or not,” Rabe stated.

Amongst these anticipated to bid are a consortium of high-profile French entrepreneurs together with billionaire Rodolphe Saade, one other supply near the matter instructed Reuters.

French transport group CMA CGM, of which Saade is chairman and which he controls along with his household, stated it didn’t touch upon market rumours.

Different potential patrons embody French media group Vivendi and Altice, owned by billionaire Patrick Drahi, alongside Italian media conglomerate MediaForEurope (MFE), Reuters reported on Monday.

Vivendi, Altice and MFE declined to remark.

RTL along with French conglomerate Bouygues, TF1’s principal shareholder, ended the plan to merge M6 and TF1 right into a nationwide tv champion on Friday, saying calls for by the French competitors authority made it unworkable.

The authorities would solely have given the inexperienced gentle to the deal, which was designed to forge a heavyweight within the French tv and video streaming market within the face of world competitors from Netflix, if both TF1 or M6 was offered.

If RTL desires to promote M6, a deal have to be accomplished by spring 2023, as a result of M6’s broadcasting license comes up for renewal in Could. After that, its principal shareholder wouldn’t be allowed to promote it for 5 years.

In March 2021, when Bertelsmann confirmed talks to promote its stake, French media reported the RTL’s stake was value 1.5 billion euros ($1.48 billion), valuing all of M6 at round 3 billion euros.

($1 = 1.0142 euros)

(Reporting by Klaus Lauer in Berlin and Elvira Pollina in Milan; Further reporting by Gus Trompiz in Paris; Writing by Emma-Victoria Farr in Frankfurt; Modifying by Silvia Aloisi and Alexander Smith)