M6: stock jumps on takeover rumours

(CercleFinance.com) - The M6 share is up over 6% on Friday, having increased due to speculation surrounding a possible takeover of the French television group.


At around 9.30am, the stock was up 6.4%, in volumes that had already accounted for almost all the trading in recent sessions. The stock has now risen by 10% over the week and is up over 35% since 1 January.

This speculative surge was prompted by the publication early this morning of a press release from RTL Group - M6's main shareholder - in which the Luxembourg group advocated concentration in the European television sector.

RTL says that it is currently considering a number of options regarding our controlling stake in the French group M6, with the idea of creating value for our shareholders, while assuring that it has "no certainty" as to the conclusion of a possible agreement.

For the record, RTL is itself a subsidiary of German media giant Bertelsmann.

However, according to information from Les Echos, candidates for the takeover of M6 are already jostling for a position.

According to the daily, Vivendi, TF1, Xavier Niel and Daniel Kretinsky have expressed their interest in the group, while there is still some doubt as to whether Altice, Patrick Drahi's group, and Italy's Mediaset will make a bid.


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