Media
Bertelsmann 'prepared to reduce RTL stake'
Published Saturday, Aug 30 2008, 12:57 BST | By Neil Wilkes
CFO Thomas Rabe said Thursday that the family-owned business would be prepared to reduce its stake in RTL to 75%, a move that would raise an estimated £1.5 billion.
It has been speculated that Bertelsmann is keen to acquire a stake in ITV, after the government ordered BSkyB to reduce its 17.9% stake in ITV to below 7.5%. BSkyB is in the process of appealing the ruling.
Rabe's comments helped lift ITV shares 6.4% to 44.8p by close of trading on Friday.
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