Six potential investors vie for Antenna stake
Friday, June 3, 2005, 07:05
The management of the State Privatization and Holding Rt (ÁPV) has invited six companies to the second round of the privatization of broadcasting company Antenna Hungária Rt. The six hitherto successful contenders for the shares, which represent a 75% stake plus one vote in the company, include Abertis Telecom S.A., Ceské Radiokomunikace a.s., the Macquarie Telecommunications Consortium, Österreichischer Rundfunk (ORF), Swisscom Broadcast AG and TdF Télédiffusion S.A. Ten preliminary bids were submitted to the privatization agency, of which one was invalid. Three of the valid offers failed to meet the evaluation requirements as their industry references and strategic plans were inadequate. The six potential investors invited to participate in the second round offered to pay between Ft 18.81 billion and Ft 38 billion, which can be raised but not lowered in the next round. The contenders will submit a final, binding offer for the stake in mid-July, subsequent to the due diligence procedure.