AT&T: agreement for sale of shares in CME
(CercleFinance.com) - AT&T has announced that it has reached an agreement to sell its majority stake in Central European Media Enterprises (CME) to Czech investment company PPF Group as part of its strategy to sell non-core assets.
Under the terms agreed, the US media and telecommunications giant will receive about 1.1 billion dollars in cash upon completion, and will be relieved of a 575 million debt security.
CME has broadcasting operations in Bulgaria, the Czech Republic, Romania, Slovakia and Slovenia. The transaction is expected to close in the second quarter of 2020, following regulatory approvals and other customary conditions.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Under the terms agreed, the US media and telecommunications giant will receive about 1.1 billion dollars in cash upon completion, and will be relieved of a 575 million debt security.
CME has broadcasting operations in Bulgaria, the Czech Republic, Romania, Slovakia and Slovenia. The transaction is expected to close in the second quarter of 2020, following regulatory approvals and other customary conditions.
Copyright (c) 2019 CercleFinance.com. All rights reserved.