October 13 (SeeNews) - Dutch-registered PPF Group said on Tuesday it wrapped up the acquisition of media and entertainment group Central European Media Enterprises (CME) and now fully controls CME’s operations in the Czech Republic, Romania, Slovakia, Slovenia and Bulgaria.
"Shares on the NASDAQ Global Select Market and Prague Stock Exchange have been delisted and now cease to exist following the completion of the acquisition. Holders of CME’s Class A Common Shares immediately prior to the effective time of the merger will receive $4.58 per share," PPF Group said in an e-mailed statement.
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Effective immediately, Didier Stoessel will assume the position of CEO at CME responsible for the Czech, Romanian, Slovak and Slovenian markets, while Lubos Jetmar has been named CEO of CME Bulgaria and will be responsible for operations, strategy, and growth development plans for the local market.
"We are looking forward to creating new business opportunities between media operations and telecommunication services,” PPF majority shareholder Petr Kellner said in the statement.
CME's operations include 30 television channels in Bulgaria, Romania, Slovenia, the Czech Republic and Slovakia.
The company's portfolio comprises the bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady and Ring channels in Bulgaria, PRO TV, PRO 2, PRO X, PRO GOLD, PRO CINEMA, PRO TV International and PRO TV Chisinau in Romania and POP TV, Kanal A, Brio, Oto and Kino in Slovenia.
($ = 0.848494 euro)