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PPF to acquire CETV for $2.1B

Oct. 27, 2019 7:20 PM ETCETV, TBy: Douglas W. House, SA News Editor9 Comments
  • An affiliate of PPF Group N.V. has agreed to acquire Central European Media Enterprises for $2.1B in cash ($4.58/share), a slight discount from Friday's close of $4.65, but up ~32% from its price in March when it announced that it planned to explore shareholder value-boosting strategic alternatives.
  • The deal should be completed by mid-2020.
  • Investor AT&T will receive ~$1.1B in cash at closing for its stake and will also be relieved of a $575M debt guarantee.

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Comments (9)

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Basit Saliu profile picture
T isnt paying down debt with retained earnings, but by selling assets. Sellings assets may hurt its cash flow and profitability.
This was Warner investment, probably not most profitable one, PPF will do better as local private capital. Beside that price is 5 year peak, I would said it is at least fair price.
Sounds good, was this investment accretive? I'm worried about earnings this quarter, but they are sure pushing some buttons lately.
sstefanick58 profile picture
Pay down more debt, $50 here we come.
Basit Saliu profile picture
siestadreamer profile picture
Management continues to monetize non-core assets, as promised.
Dividend Dojo profile picture
T delivers again! Go T!
Stefan Redlich profile picture
Nice, more cash in the bank!
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