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Bertelsmann will not proceed with full RTL acquisition

December 21, 2007 07.43 Europe/London By Robert Briel

Bertelsmann will not proceed with the public offer for the outstanding shares of the broadcaster RTL it does not own. Bertelsmann says it had now “established that there is currently insufficient certainty that the Luxembourg Takeover Law would apply to its contemplated offer” and that, as a result, the company has now decided not to proceed with the recently contemplated offer.

However, Bertelsmann “reserves the right to increase its shareholding in RTL Group and continues to assess all routes that are or may become available so as to achieve its strategic goal of taking RTL Group private.”

In a reaction, RTL issued a statement saying: “The board of RTL Group will continue to manage the company for the benefit of all the shareholders, and is looking forward to further strengthening further its leading positions in television broadcasting, radio and production.”

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Filed Under: Finance, Newsline Edited: 21 December 2007 07:51

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About Robert Briel

Arnhem-based Robert covers the Benelux, France, Germany, Austria and Switzerland as well as IPTV, web TV, connected TV and OTT. Email Robert at rbriel@broadbandtvnews.com.

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