PPF Group has acquired a 6.3% stake in Viaplay for an undisclosed fee.
News of the acquisition was confirmed to Broadband TV News by PPF Group, quoting a disclosure in the Swedish capital markets regulator Finaninspektionen. However, it provided no further comment.
As previously reported by Broadband TV News, on July 20 Canal+ acquired a 12% stake in Viaplay, also for an undisclosed fee. This came on the same day Viaplay announced disappointing Q2 results and far-reaching cuts including exiting the US, Canada, UK, Poland and the Baltics.
Czech-based PPF Group is an international investment company operating in multiple sectors, including media, telecommunications, e-commerce, and financial services.
PPF’s Central European Media Enterprises (CME) runs TV and digital media companies in six markets in central and southeastern Europe and the region wide SVOD platform Voyo.
PPF also recently acquired a stake in Germany’s TV broadcaster ProSiebenSat.1 Media SE, representing 11.6% of voting rights on the outstanding share capital of ProSiebenSat.1.