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AT&T closer to sale of Central European Media - reports

Oct. 17, 2019 3:56 PM ETCETV, TBy: Jason Aycock, SA News Editor17 Comments
  • Investment group PPF is closing in on a deal to buy a majority stake in Central European Media (CETV +10.1%) from AT&T (NYSE:T).
  • AT&T owns 64% of CME's equity but controls 75% of the company via preferred stock, a position inherited from its acquisition of Time Warner.
  • PPF's Petr Kellner, the richest man in the Czech Republic, is handling talks personally and a deal could be announced within days, according to regional reports.
  • CME has a market cap of $1.13B.

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