The Chinese energy group CEFC and Czech/Slovak financial group Penta Investments have made a joint bid of around $2 billion (€1.69 billion) for the Time Warner-owned broadcaster CME.
At the same time, reports Reuters, PPF, a financial group owned by the Czech entrepreneur Petr Kellner, is now no longer in contention to buy CME.
Quoting two sources familiar with the matter, Reuters adds that the pricing has not yet been finalised, and a third that the sides are close to a deal but the details have yet to be agreed.
As previously reported by Broadband TV News, CEFC teamed up the Penta Investments last month in a bid to buy CME, which has broadcast interest in six Central and East European markets.
Earlier this year, it was reported that CME had agreed to sell its broadcast interests in two of those markets – Croatia and Slovenia – to Slovenia Broadband, a subsidiary of United Group.
However, the competition authority in Croatia subsequently refused to approve the deal.