Refile: BUZZ-M6 drops after RTL ditches plans to sell its controlling stake

RTL SA

04/10/2022 08:09

(Fixes day of the week in last bullet)
    ** Shares in M6  MMTP.PA  slump around 7% after RTL
 RRTL.DE , part of Germany's Bertelsmann  BTGGg.F , said on
Monday it is dropping sale plans for its 48.3% stake in the
French TV group
    ** Last month, RTL and Bouygues  BOUY.PA , the parent group
of French private TV network TF1  TFFP.PA , scrapped a plan to
merge M6 and TF1 into a national television champion
    ** Once the deal fell through, reports had emerged that
initial offers by other bidders had been filed and CEO Thomas
Rabe said on Monday that RTL had received "several financially
attractive offers" for its controlling stake in M6
    ** RTL shares slip 2.2%
    ** M6 shares, which YTD have lost about 32.5% of their
value, sit at the bottom of France's SBF 120  .SBF120  index and
are one of the few fallers on Tuesday morning
 (Reporting by Elena Vardon)
 ((elena.vardon@tr.com))