Courbit-led group offers €20 per share for M6 shares

French media magnate Stephane Courbit and his investor partners are said to have offered 20 euros ($19) per share for Bertelsmann SE & Co.'s stake in television company Groupe M6, Bloomberg News reported on Sunday.

The offer represents a 39% premium to Friday's closing price of €14.43 per share and values the 48% stake at around €1.22 billion. Czech billionaire Daniel Kretinsky is also bidding for the stake, the report said, citing a person familiar with the matter. Reuters reported last week that a consortium of high-profile French entrepreneurs, including billionaire Rodolphe Saade, Courbit of TV production group Banijay and investor Marc Ladreit de Lacharriere, were close to a deal. Italian broadcaster MediaForEurope has joined forces with French billionaire Xavier Niel to make a non-binding offer for a controlling stake in M6, two sources familiar with the matter said on Friday. In March 2021, when Bertelsmann confirmed talks to sell its stake, French media reported that RTL's stake was worth 1.5 billion euros ($1.48 billion) and that the entire M6 was worth around 3 billion euros. Initial cash offers for RTL's 48.3% stake in M6 were expected to come in last Friday afternoon after a planned merger between the company and fellow French broadcaster TF1 collapsed the previous week. Source: Reuters Bloomberg News Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!