Schibsted bids on Alma Media
Schibsted is offering a friendly bid on all of the shares in Alma Media, valued at EUR 705 million (USD 942 million).
Schibsted tried to buy the Finnish company this summer, but failed. Swedish media claimed that Schibsted secretly tried to take over the Nordic television market and that the plan was to run over Swedish Bonnier.
Bonnier owns 33 percent of Alma Media, and the Finish company is seen as the key to controlling two of the biggest television channels in the Nordic region; TV 4 in Sweden and MTV 3 in Finland.
It has previously been speculated about whether or not Schibsted wanted to secure a share in the Danish TV 2 when the channel was privatized last month, but the media house did not put in a bid when it became known that the Danish state would remain an influential stockholder.
The Schibsted offer requires that the media group obtains more than 1/3 of the votes in Alma Media. In addition, the usual requirements connected to these types of transactions apply. Schibsted will finance the purchase with new loans through Danske Bank/Focus Bank and Nordea.
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