Bertelsmann to sell RTL Group shares
Jörn Krieger | 04-04-2013
German media company Bertelsmann has decided to go ahead with its plans to place part of its stake in European TV and radio broadcaster RTL Group on the stock exchange.
The shares will be listed on the Frankfurt stock exchange through a secondary public offering of ordinary shares, thereby significantly increasing RTL's free float. The first day of trading is expected before the summer break.
Bertelsmann, which currently holds 92.3% of the voting rights in RTL Group, will keep a majority stake of at least 75%. With the move, which was announced on 31 January, the company wants to raise fresh capital for investments into digital ventures and growth regions.