Bertelsmann Will Unload Up To $2B In RTL Shares

Law360, New York (April 4, 2013, 4:34 PM EDT) -- Bertelsmann AG, the German media conglomerate, on Thursday confirmed plans to cut its stake in radio and TV broadcaster RTL Group by selling up to $2 billion in shares to raise money for new deals.

Bertelsmann, which owns 92.3 percent of RTL, said it would keep at least a 75 percent stake. At RTL's current market capitalization, that would net Bertelsmann about €1.54 billion ( $2 billion), though Bertelsmann has not said how it will price the stock. The shares will be offered to investors in...
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