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CTC Media deal completion delay

May 11, 2016 08.22 Europe/London By Chris Dziadul

CTC MediaThe reorganisation of the Russian national commercial broadcaster CTC Media is now expected to close by the end of this month.

Quoting Interfax and a company statement, Vedomosti adds that it was previously reported it could do so in mid-May.

It also says that the company plans to close the deal as soon as possible after receiving a tax refund from the US authorities.

The sale of CTC Media, in which MTG held a majority (38%) stake, was first announced in late 2015. It saw the vendor receive an initial $150.54 million from the buyer UTV Management before the end of the year, followed by $42.5 million this February, with the latter figure being reduced by $7.5 million.

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Filed Under: Central & East Europe, Newsline Tagged With: CTC Media, Russia Edited: 11 May 2016 08:22

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