BMG owners Bertelsmann are considering following up their sale of their half of SonyBMG by selling some of its 90% stake in RTL, the European broadcasting giant who own Five here in the UK. The German conglom's CFO Thomas Rabe has said they may consider selling up to 15% of their stake in a bid to raise £1.5 billion. It's thought they will use some of their SonyBMG and RTL booty to try and buy a stake in ITV - most likely they'll bid for the 10% stake in the UK broadcaster that BSkyB is being forced to sell by competition regulators (that sale is currently pending Sky's appeal regarding the forced sale).
Sep 3, 2008
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1 min read
Bertelsmann likely to reduce RTL stake to fund ITV bid
Bertelsmann may sell up to 15% of its RTL stake to raise £1.5 billion, possibly to buy a stake in ITV, including the 10% BSkyB is being forced to sell.