Bertelsmann Plans to Cut $2.7 Billion RTL Stake to Fund M&A
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Bertelsmann SE plans to sell a 2 billion-euro ($2.7 billion) stake in broadcasting division RTL Group SA as Europe’s largest media company looks for takeover targets to accelerate growth.
Bertelsmann intends to lower its stake in Luxembourg-based RTL to about 75 percent from 92.3 percent, it said yesterday. A sale would free funds for a larger acquisition, with potential targets including Deutsche Telekom AG’s online classifieds business Scout24 Holding GmbH as well as Springer Science & Business Media, the German academic publisher owned by EQT Partners AB, according to a person familiar with the matter who asked not to be identified because the discussions are private.