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RTL gears up for buying spree

News, 05 July 2000

RTL Group will list on the London stock exchange on 26 July. The listing will value the company at about £14 billion and give RTL the equity to acquire media businesses across Europe.

RTL was created by the merger of CLT-Ufa and Pearson TV and is Europe's largest free-to-air television and radio broadcaster. The group is thought to want to consolidate its position in the UK by taking full ownership of Channel 5, in which United News & Media holds a substantial stake. Businesses in Spain, Italy, Poland and Hungary are also to be targeted.

RTL’s chief executive, Didier Bellens, RTL said , "The strength of our businesses, combined with our financial firepower, puts us at the forefront of the rapidly consolidating European media industry."

Financial Times