Three bids for M6?
September 26, 2022
Stephane Courbit, the chair of Banijay, has emerged as the frontrunner bidding for M6 Group via his FL Entertainment investor, along with other, reports Bloomberg.
M6 owner Bertelsmann put it on the block after the regulator stopped its TF1 merger, and has reportedly received three offers.
The group led Courbit has offered €20 a share for Bertelsmann’s controlling 48.3 per cent stake in M6, a 39 per cent premium compared on M6’s closing price of €14.43 on September 23rd.
Reuters reports that Italy’s MediaForEurope (MFE) is also teaming with Iliad’s owner Xavier Niel to submit a bid. MFE has plans for pan-European expansion to combat competition from US streamers accords with the initial reason for M6’s merger with TF1.
There is also said to be another bid from Czech billionaire Daniel Kretinsky who previously acquired a 10 per cent stake in ProSiebenSat.1.