Elsa Keslassy International CorrespondentBouygues, the parent company of TF1 Group, France’s leading commercial network, is on track to buy a 30% stake in M6 Groupe from Berteslmann, Variety has confirmed.
TF1 is expected to unveil the advanced negotiations on Tuesday (May 18).Bertelsmann would retain 16% of the capital in M6 Groupe, while Nicolas de Tavernost, the long-time president of M6 Groupe’s directory, would remain at the company as chairman, according to the French newspaper.Bouygues and M6 Groupe are being advised by Rothschild and JP Morgan, respectively.
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