PPF Group, controlled by Czech billionaire Petr Kellner, will finalize the takeover of regional media group CME (Central European Media Enterprises) on October 13.

The deal between PPF and US group AT&T, CME’s majority shareholder, has been cleared by the European Commission.

“Following the European Commission's clearance of the PPF Group merger with CME, all required regulatory approvals needed to close the previously announced transaction have been received. Accordingly, completion of the transaction is expected to occur on October 13, 2020,” CME announced on Tuesday, October 6.

CME is one of the biggest media groups in Central and Eastern Europe. It owns the biggest media company in Romania – PRO TV, which will thus go from American to Czech control.

(Photo: Pixabay)

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