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Central European Media Advances for Third Day on Bond Buyback

Dec. 7 (Bloomberg) -- Central European Media Enterprises Ltd. rose for a third day after the broadcaster said it repurchased notes worth $104 million to reduce its debt and improve liquidity.

The stock gained 1.1 percent to 380 koruna at 2:46 p.m. in Prague, heading for its highest close in more than two weeks after reversing an earlier loss. CME, as the company is also known, has added 3.1 percent in the past three days, its longest stretch of advances since Oct. 13.

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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