Financial News

ProSieben stock price plunges 6% as CEO dismisses merger rumours

By: Invezz

Shares of ProSiebenSat.1 Media (ETR: PSM) have plunged more than 6% today after the CEO of the Germany-based broadcasting company rejected calls for European TV industry mergers, which may ultimately lead to a hostile takeover attempt from the Italian Mediaset TV corporation.  Fundamental analysis: “Few synergies” in mergers – CEO Rainer Beaujean, the newly-hired CEO of ProSiebenSat.1 Media, rejected calls for European TV industry mergers.  “A trans-European merger would bring few synergies,” Beaujean said. This way, Beaujean dismissed rumours that ProSiebenSat.1 Media is in talks with Berlusconi’s Mediaset or Daniel Kretinsky’s Czech Media Invest to merge. Both these companies own

The post ProSieben stock price plunges 6% as CEO dismisses merger rumours appeared first on Invezz.

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