Nice Matin receives offer from Iskandar Safa – report (translated)
03 JAN 2019
Businessman Iskandar Safa is understood to have submitted an offer for France-based regional newspaper Nice-Matin, French daily Le Figaro reported without revealing its source of information.
The report noted that Belgium-based conglomerate Nethys confirmed in a letter sent to employees that it was looking to sell its 34% stake in Nice Matin, whereas it had initially planned to increase its stake to a majority 51% shareholding on 1 January 2019. Nethys had acquired the stake in 2016, the report noted.
Meanwhile, French entrepreneur Bernard Tapie, who already controls the La Provence regional daily, denied in French daily Le Mondethat it was interested in acquiring Nice Matin, as previously rumoured.
Nice Matin reported losses of EUR 2m in 2017 and expects to break even in 2018. The report noted that the headquarters of the group are valued at EUR 30m.