M6: speculation continues to drive stock
(CercleFinance.com) - The M6 share is soaring for the second consecutive session on Friday on the Paris stock exchange, still buoyed by speculation surrounding a possible takeover of the television channel after the failure of its proposed merger with TF1.
Following these rumours, relayed this morning by several market participants, M6 shares climbed 7.2%, the biggest winner in the SBF 120 index in late morning trading, after the stock already rose by 6.4% yesterday.
Following the ditched merger plans with TF1, the media group Bertelsmann, M6's main shareholder via its subsidiary RTL (with 48% of the capital), is reportedly looking for an alternative and has asked buyers to step forward by today.
This very tight timetable is explained by the licence renewal that M6 must apply for in May 2023 and which means that the group will not be transferable for five years, analysts at Invest Securities said in a reaction note.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
Following these rumours, relayed this morning by several market participants, M6 shares climbed 7.2%, the biggest winner in the SBF 120 index in late morning trading, after the stock already rose by 6.4% yesterday.
Following the ditched merger plans with TF1, the media group Bertelsmann, M6's main shareholder via its subsidiary RTL (with 48% of the capital), is reportedly looking for an alternative and has asked buyers to step forward by today.
This very tight timetable is explained by the licence renewal that M6 must apply for in May 2023 and which means that the group will not be transferable for five years, analysts at Invest Securities said in a reaction note.
Copyright (c) 2022 CercleFinance.com. All rights reserved.