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September 25, 2019 4:57 pm | FILED UNDER: business

PPF Last Remaining Bidder For CME

By Matt Atlas Financial Chart

Petr Kellner’s investment group PPF, is the last remaining bidder to buy Central European Media Enterprises (CME) from AT&T, hlidacipes.org reported.

According to sources close to PPF, the price demanded by the Americans for CME (a group of 30 television stations in Central and Eastern Europe) is expected to be around CZK 47 billion. The company’s portfolio includes Czech TV Nova.

 

“We cannot comment on PPF’s interest in purchasing some of the CME Group companies,” says Jitka Tkadlecová, PPF Group spokesman.

 

Two years ago it was speculated that CME would be sold for about $2 billion.

 

CME’s management officially presented its outlook for this year, according to which EBITDA profit will increase by 10-12% y/y. From approximately $239 million to $243 million. $47 billion would correspond to almost ten times EBITDA of CME – which would be a realistic, if not above-average valuation of the company.

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