German Federal Cartel Office prohibits acquisition of ProSiebenSat.1 Media AG by Axel Springer AG




  • zoom+
  • zoom-

23.01.06

German Federal Cartel Office prohibits acquisition of ProSiebenSat.1 Media AG by Axel Springer AG

To press release overview

Today, the German Federal Cartel Office issued a prohibition notice regarding the intended acquisition of ProSiebenSat.1 Media AG by Axel Springer AG.

After today's receipt of the expected prohibition notice Axel Springer AG will analyze which possibilities for an appeal and which other options are available.

On August 5, 2005, Axel Springer AG had entered into a share purchase agreement with P7S1 Holding L.P for the acquisition of all common and preference shares of ProSiebenSat.1 Media AG held directly and indirectly by P7S1 Holding L.P. The consummation of the share purchase agreement, by which Axel Springer AG would increase its existing indirect shareholding in ProSiebenSat.1 Media AG from currently about 12 percent to 100 percent of the common voting shares and 25 percent of the non-voting preference shares, is subject to obtaining the clearances required under cartel-law and media-supervisory law. The same applies to the voluntary public takeover offer that was made to the shareholders of ProSiebenSat.1 Media AG by Axel Springer AG on September 16, 2005 and could be accepted by them until November 3, 2005.

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