This drop comes after the sale of 5% of its capital by a shareholder at a price lower than the market price.
The M6 television group fell by more than 7% on the Paris Stock Exchange on Wednesday, after the sale at a price below market price of 5% of its capital by the investment company CNP. Shortly before noon, M6 shares were trading at 17.24 euros, down 7.31% from the previous day’s close. At the same time, the broader index of the Parisian market, the SBF 120, gained 0.49%.
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The Belgian investment company Compagnie nationale à portfolio (CNP), belonging to the Frère family, sold its entire 5.05% stake in the capital it held in M6, at a price of 16.80 euros, for a total of 107.3 million euros, according to a press release on Wednesday. A shareholder since 2006, CNP said it was “honored and proud to have accompanied M6 on its journey“, thanking the CEO of the group Nicolas de Tavernost for his”exceptional collaboration“.
Merger announced between TF1 and M6
The fall of M6 led to that of TF1, which lost 7.98% to 8.42 euros at the same time. The two groups have announced their desire to merge, but the operation must still obtain the approval of the Autorité de la concurrence.
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“It is an operation that is not self-evident, when you look at the potential market shares of the new group, especially in the advertising market. But there are other considerations to take into account, which can only come out of the market tests.“, had developed before the Economic Affairs Committee of the Senate the new president of the Authority, Benoît Coeuré, on January 12. Since January 1, the action of M6 is up 0.47%, and that of TF1 down 3.50%.
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