ProSieben Quashes Disposal Speculation

04 September 2008

MUNICH: German satellite TV giant Prosieben Sat1 has dismissed rumours it is to sell some of its European channels to raise cash following last year's costly acquisition of Swedish group SBS Broadcasting.

Prosieben is majority owned by private equity firms Kohlberg Kravis Roberts and Permira.
The latter's head of German operations, Joerg Rockenhaeuser, told a newspaper that such a sale "from the shareholder point of view, that wouldn't make any sense".

He added that the business in its current structure was "well on its way to repeating in 2009 the success of past years”.

Data sourced from Deutsche Welle (Germany); additional content by WARC staff