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.”
