Axel Springer declines speculations about takeover offer for the WAZ group




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19.10.11

Axel Springer declines speculations about takeover offer for the WAZ group

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Axel Springer AG has never submitted an offer for the WAZ group and consequently has not increased an offer now.
 
“The rumor about Axel Springer having made an offer for the WAZ group comes as close to the truth as the famous spider in the Yucca”, corporate spokeswoman Edda Fels said. “We have only given our view on the valuation of the whole group which we think is not adequately reflecting the market value”, she added.
 
Since many years, Axel Springer AG has been in talks with managers of the WAZ group about taking over the investment in the online activities (‘Markt-Gruppe’), the WAZ-stake in the ‘Krone’ as well as the TV program guides. In connection with the plans of the Brost group to dispose of their stake, Axel Springer AG has repeated its interest and has made a nonbinding offer for parts of the WAZ group.

Press Contact Axel Springer SE: Edda Fels
Tel: +49 30 2591 77600