The global financial crisis has forced RTL to abandon a plan to buy into Belgrade’s TV Avala, according to Serbian press reports.
The German broadcaster, which earlier reports said was expected to sign a draft contract to buy 49% of TV Avala for €45 million, had received preliminary approval from the National Broadcasting Agency (RRA).
Under Serbian law, a company holding a broadcast licence must keep at least a 51% stake in the TV station until the licence expires.
TV Avala and four other TV stations secured national broadcast licences in April 2006. RTL Luxembourg also sought broadcast rights but was left empty-handed.
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