Portugal's Cofina makes renewed offer for Media Capital acquisition

Grupo Media Capital SGPS SA

12/08/2020 20:11

LISBON, Aug 12 (Reuters) - Portuguese publishing group
Cofina  CFN.LS  made a renewed offer to purchase 100% of shares
in Media Capital, who operates one of Portugal's biggest TV
channels, competition watchdog CMVM announced on Wednesday.
    The deal would make Cofina, which already owns tabloid
Correio da Manha and business newspaper Jornal de Negocios among
others, the country's biggest media group.
    Media Capital, currently 94% owned by Spanish firm Prisa,
operates TVI, one of the country's largest television channels.
The deal requires approval from CMVM.
    Cofina made an initial offer to buy the company in September
2019 but abandoned plans in March after a share sale needed to
finance the deal was scuppered by financial market turmoil
linked to the coronavirus outbreak urn:newsml:reuters.com:*:nL8N2B42K3.
    The revised offer for the entirety of the firm values each
share at 0.415 euros, an 82% drop from the offer made prior to
the pandemic.

 (Reporting by Victoria Waldersee
Editing by Chizu Nomiyama)
 ((Victoria.Waldersee@thomsonreuters.com;))