Billionaire Kretinsky takes over 5% of TF1

After the purchase of magazines from the Lagardère group, including the emblematic She, and its entry into the group’s capital The world in 2018, Czech billionaire Daniel Kretinsky once again surprised the French media by acquiring more than 5% of the TF1 group.

In a statement to the Autorité des marchés financiers, Mr. Kretinsky said he owned, through his Luxembourg company Vesa Equity Investment, 5.05% of the capital and voting rights of the television group. He had entered the capital in 2019, said TF1.

This operation is not carried out in agreement with the Bouygues group, TF1’s main shareholder, but “is in no way hostile to it, quite the contrary”, Daniel Kretinsky told the daily newspaper. The echoes. “TF1 is a company in which we believe because of its solidity. We also believe in the merger with M6, which we are very favorable to,” he added.

A fortune of € 3 billion

According to the business newspaper, the billionaire – who also owns the weekly Marianne – could also increase its participation. Already, its rise in the capital of TF1 was well received by investors: at 4:40 p.m., the title of the TF1 group gained 1.59% to € 8.63.

Before being able to materialize, the merger project between the two television groups TF1 and M6, announced in May, must obtain the approval of several regulatory bodies, including the Competition Authority and the Superior Audiovisual Council. (CSA), which must rule in the first half of 2022.

At the head of a fortune estimated at more than 3 billion € according to Forbes, the magnate, also at the helm of the football club Sparta Prague, is at the head of a small media empire in his country and a powerful energy group, which employs more than 24,000 people.