Daniel Kretinsky

Matt Atlas

Kretinsky Buys 5% Stake In French TV Group TF1

Czech billionaire Daniel Křetínský bought about 5.1 percent of shares in the French television group TF1. This is shown by records for the Paris Stock Exchange, to which Reuters refers. According to the French economic daily Les Echos, Křetínský wants to increase his share in the company.

In the French media market, Křetínský has already acquired Marianne magazine, seven magazines from the Lagard? Re group, including the well-known title Elle, and 49 percent of the Le Nouveau Monde holding company, one of the shareholders of the Le Monde group publishing the eponymous group. daily.

In an interview with Les Echos published today, Křetínský stated that he supported the TF1 group’s plan to merge with the competing M6. According to him, the Czech investor stated that the merger of the two companies will be advantageous for viewers.

Křetínský was previously one of the bidders for the takeover of the M6, along with Vivendi and Xavier Niel. However, the winning bid was submitted by TF1. The daily Le Figaro now asks if Křetínský is returning through the window when he failed through the door. Křetínský specified to Les Echos that he would be a minority and passive shareholder in TF1 without special rights.

Shares of TF1 in response to the report shortly after noon added about 2.5 percent to 8.70 euros, while shares of M6 were about 1.2 percent good. The French Office for the Protection of Competition is to approve the merger of the two companies by the summer of 2022.

In addition to some French media, Křetínský also owns one of the largest energy groups in Europe. Through Luxembourg-based VESA Equity, which it runs with its business partner Patrik Tkáč, it has a 16% stake in the British post office Royal Mail. Other shares are held in the German retail company Metro and in the American network of sports clothing and footwear stores Foot Locker.