Sweden’s Modern Times has sold the Nova broadcasting group to the Czech PPF Group, both sides said. PPF is expected to buy a Bulgarian telecommunication branch of Norwegian Telenor, along with operations in Serbia and Montenegro. It is even possible to add a Hungarian operator, reports B92.
If Kelner buys Telenor in Bulgaria, currently the only mobile operator that does not offer TV and media services, there are great opportunities that it will become a combination of two types of expansion business in the media and telecommunications markets.
“Modern Times Group (MTG) sold 95% of its shares in the Bulgarian media group, and PPF received the remaining 5% of shares from the Eastern European media holding company,” the Czech group said.
The total value of the transaction is €185m, which is considerably below the price for which MTG bought Nova TV in 2008. Swedish company paid €620m for the New+ cable channel and 80% Eva magazine owned by the Greek Antenna Group.
