Everything will probably be fine

Newspapers The Board of Directors of Zürichsee Medien (ZSM) met this week to discuss the NZZ-PubliGroup deal. "I have been informed of the status," confirms ZSM Chairman of the Board Theodor Gut, who will not say whether the Board has now been informed in writing by P that it intends to sell half of its ZSM stake to NZZ. The period during which the Gut family could assert their right of first refusal only begins when Gut receives such a letter. Now both sides remain silent. This indicates that the information has been provided and the deadline is running. This in turn leads to the conclusion that P and NZZ were able to get ZSM on their side. In other words, the Gut family is waiving its right of first refusal. Because this much is clear: P will only sell its share if it is certain that it will end up with NZZ. Otherwise they would leave everything as it is. This would be of the least benefit to ZSM.
(mk)