Central European Media Tumbles for Fifth Day After CEO Sarbu Sells Shares
Central European Media Enterprises Ltd. (CETV) fell for a fifth day to its lowest in more than two years after the broadcaster said Chief Executive Officer Adrian Sarbu sold shares in the company last week.
CME, as the company is known, slumped as much as 13 percent to 221 koruna, its lowest intraday price since March 2009, and traded down 7.1 percent to 235 koruna as of 9:45 a.m. in Prague.
Sarbu sold 9,433 shares at $17.62 each on August 3, the Bermuda-registered company said on Aug. 5 in a regulatory filing to the U.S. Securities and Exchange Commission.
To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
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