Portugal’s Securities Market Commission (CMVM) has ruled that the entrepreneur Mario Ferreira must make a bid for the 69.78% of the Media Capital group he does not already own within five days.
Ferreira acquired a 30.22% stake in Media Capital in May when his company Pluris Investments signed an agreement with Prisa’s Portuguese subsidiary Vertix. It involved the block transfer of shares for €10.5 million.
CMVM says that it “established that there was concerted exercise of dominant influence between Vertix, SGPS, S.A. (Media Capital) and Pluris Investments, S.A. over Media Capital until the sale of the stake of Vertix, SGPS, S.A. on November 3, 2020”.
As a result, it required “a mandatory takeover bid of Pluris on all Media Capital shares that it does not hold, within a maximum period of five working days”.
Media Capital’s interests include TVI, one of Portugal’s leading commercial broadcasters.
