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    PPF Group will invest into the development of Euronews publishing house
    10/23/2009

    PPF Group has decided to invest into the development of Euronews publishing house, which represents an important player in the Czech business media market, so that Euro weekly and other parts of the publishing house can improve its market position, both in print and on-line media.

    Private equity fund PPF Investments (PPFI) is a current owner of Euronews publishing house. PPF Group has reached an agreement with PPFI shareholders on a graduate acquisition of 100% share in management company PPF Investments Ltd. The transaction has not been closed yet and is subject of fulfilment of standard regulatory conditions precedent.

    There have been several speculations and market rumours recently about possible sale of Euronews publishing house to the third party. Each investor who cares about his investment’s value always investigate all opportunities including sale of assets. However, the sale of Euronews publishing house is not on the agenda now. PPF Group plans further investments to develop the publishing house, in order to improve its competitiveneness and its flexibility in reacting on the newest trends in the media business.

    The re-shuffle of Euronews joint-stock company corporate bodies is under way, with Evzen Hart, PPF HR&Communications Director to be nominated Chairman of the Board, István Lékó, the current Euro weekly’s Editor-in-Chief as Deputy Chairman and Vojtech Jirku, ex-Microsoft and PPF as Deputy-Chairman and CEO, Euronews publishing house.

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