Springer and Ringier: Expansion planned in Eastern Europe
Ringier and Axel Springer plan to acquire media companies in Eastern Europe. «Yes, we want to make acquisitions in specific areas in Eastern Europe, particularly in the digital sector—that is, on the Internet,» Ringier CEO Christian Unger told the *Süddeutsche Zeitung*.
"We regularly look at everything that comes onto the market. This includes the portfolio of the WAZ Group, but also that of the British Mecom Group, for example," said Unger in the interview published on Wednesday, according to SDA.
Both WAZ and Mecom want to withdraw. Springer and Ringier founded a joint venture for Eastern Europe six months ago, and the deal was finalized six weeks ago.
Regarding a possible IPO of the 50:50 joint venture, Unger said: "If we want to make a really big takeover and all this is not enough, an IPO would also be conceivable. This could perhaps take place in three years."
Both WAZ and Mecom want to withdraw. Springer and Ringier founded a joint venture for Eastern Europe six months ago, and the deal was finalized six weeks ago.
Regarding a possible IPO of the 50:50 joint venture, Unger said: "If we want to make a really big takeover and all this is not enough, an IPO would also be conceivable. This could perhaps take place in three years."
