TF1: could sell 3 channels to enable merger with M6

(CercleFinance.com) - TF1 and M6 have been in discussions since September to sell three channels as part of their merger process, according to the French financial daily, Les Echos.


The disposals would concern Gulli, 6Ter, TFX and TF1 Séries Films. TF1 and M6 have reportedly received about ten expressions of interest. Gulli could be of interest to Le Journal de Mickey and XILAM, which is reportedly reluctant to take the plunge, Les Echos says.

However, the article points out that some do not want to waste time when the takeover will only take place if the TF1-M6 merger is successful. The process therefore seems very preliminary at this stage, Invest Securities says.

Both the TF1 and M6 shares are currently down about 0.3%, although are outperforming the general market by around 1%.



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