TF1: to write down Unify intangible assets
(CercleFinance.com) - The Group's Board of Directors has decided to write down the intangible assets of the Unify division for 75 million euros.
“The TF1 Board of Directors has noted that the restructuring phase is taking longer than initially anticipated, due in part to the circumstances prevailing in 2020, and that this is likely to have an adverse impact on margins at the Unify division and hence on its value” says its management.
This non-deductible write down will be recognised in the consolidated financial statements for the TF1 group's fourth quarter of 2020. “This value adjustment has no impact on the TF1 Group's cash flow or net cash position”.
Copyright (c) 2020 CercleFinance.com. All rights reserved.