CME includes television stations in five Central and Eastern European countries, including the Czech group Nova.
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“The Commission has come to the conclusion that the transaction does not give rise to competition concerns in the European Economic Area,” the statement said.
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The value of the transaction is about $ 2.1 billion (approximately CZK 48 billion).
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About a third of CME’s shares were bought in 2009 by the American company Time Warner, which increased it to just under 50 percent in the following years. Time Warner was later taken over by US telecommunications giant AT&T and renamed Warner Media. Through it, it holds a majority stake in CME.
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CME increased its operating profit by six percent last year. At constant exchange rates, it rose 11 percent to $ 187.3 million. The company also repaid a debt of 150 million euros. In the Czech Republic, CME increased its OIBDA operating profit by 7.4 percent to $ 101.6 million.
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PPF Group invests in many industries from financial services to telecommunications, biotechnology, real estate to engineering. It operates in Europe, Asia and the USA.
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