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The Bulgarian regulatory office has blocked the planned sale of the Bulgarian media company Nova Broadcasting Group to the Czech investment group PPF.
This year, PPF agreed to buy 95% of Nova Broadcasting's Modern Times Group (MTG) and the remaining 5% of Eastern European Media Holdings.
MTG then stated that the transaction was valued at 185 million euros by the Bulgarian company.
PPF spokeswoman Zuzana Migdalová announced that PPF had not yet taken a written decision from the regulator and therefore could not comment on it.
The MTG, despite the decision of the Bulgarian regulatory agency, told Reuters that it was planning to conclude the Nova Broadcasting agreement in the second half of this year.
According to previous data, Nova Broadcasting Group is the largest commercial media group in Bulgaria with a 33% share of the audience. It includes seven television stations and 19 online media service providers. Founded in 1994
PPF Most Bohemian Czech Group Petter Kellner invests in a number of industries, from banking, financial services, telecommunications, real estate to biotechnology.
Possesses, among others, a majority stake in the operator O2, which is the largest Internet TV operator in the Czech Republic. Previously, PPF owned the Czech trading company Nova, which it sold to CME in 2005.
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