Daniel Kretinsky, surprise guest in the capital of TF1.
The Czech businessman, who made his fortune in energy, has just acquired 5% of the shares of the Bouygues subsidiary and plans to further strengthen his stake, according to the newspaper Les Echos.
“
TF1 is a company in which we believe because of its solidity.
We also believe in the merger with M6, which we are very much in favor of
”, explained the Czech billionaire daily.
According to him, this consolidation will allow “
a much greater capacity for resistance, particularly advertising, in a world now dominated by the Gafa
”.
Daniel Kretinsky is no stranger to the French media.
He is already a minority shareholder of the newspaper
Le Monde
and owner of the press group CMI (Elle, Marianne, Version Femina, Télé 7 Jours ...).
He recently joined forces with Stéphane Soumier, the former editorial director of BFM Business, to launch BSmart, an economic TV channel specializing in business life.
Takeover in sight?
Last spring, the billionaire was one of the candidates for the acquisition of M6, along with Vivendi and Xavier Niel. But it was TF1 who had won the bet. Is Daniel Kretinsky coming back through the window? The entry into the capital "
is not done in consultation with the Bouygues group even if we have informed it
", he indicates to
Les Échos
, specifying that the operation "
is in no way hostile to it, quite the contrary
" . “
In the case of this investment, we are a minority and passive investor. We are not asking for any specific rights
, ”explains the businessman.
Theoretically, the billionaire can very well launch a takeover bid. But he cannot own more than 49% of the capital. French law indeed prohibits a single shareholder from owning more than 49% of the capital of a terrestrial channel. Before Daniel Kretinsky's announcement, the free float stood at 56.3%. Bouygues, for its part, holds 43.7% of the shares in the TF1 group. “
Daniel Kretinsky may very well acquire 30% of TF1 by going to the market to buy securities over time, without triggering a takeover bid. But this will take time. And from this threshold, he will only be able to acquire an additional 1% per year,
”confides a good connoisseur of the dossier.
Tuesday morning, the Paris Bourse reacted favorably to this announcement. The TF1 title appreciated by nearly 2%. M6's was up 1.2%.