France's CMA CGM says it owns more than 5% of TV network M6

Television Francaise 1 SA

16/12/2022 15:20

PARIS, Dec 16 (Reuters) - France-based CMA CGM, one of
the world's largest container lines, said on Friday it now owned
more than 5% of the country's second-biggest private TV network
M6  MMTP.PA . 
    CMA CGM's boss, billionaire Rodolphe Saade, told France
Inter radio station last month that he was ready to expand
investments in French media assets beyond French regional
newspaper "La Provence".
    "In line with our expressions of interest in the media
sector and recently in M6, we confirm that we have crossed the
threshold of 5% of the (share) capital of M6," a spokesperson
for CMA CGM said, adding that the transaction was made "in
agreement" with M6's main shareholder, Bertelsmann's RTL Group
 AUDK.LU . 
    CMA CGM's spokesperson said the shipping group supported
M6's strategy and didn't intend to take control of the TV
station. 
    RTL, which owns 48% of M6, scrapped a plan to sell its
controlling stake in M6 in October, meaning that its parent
company Bertelsmann will have to wait five years before
considering any new bids for the company. 
    Saade was part of a consortium of high-profile French
entrepreneurs that expressed interest in buying RTL's stake in
M6 at the time, a source close to the matter has said. 
 (Reporting by Gus Trompiz and Mathieu Rosemain; Editing by
Susan Fenton)
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