TMG shareholders to meet on 1 June to discuss takeover by Mediahuis (translated)
The Dutch media house Telegraaf Media Groep (TMG) [AMS:TMG] will hold a shareholders meeting on 1 June, the Dutch daily Het Financieele Dagblad reported, based on information from TMG. During that meeting, the possible takeover by Belgian media company Mediahuis will be discussed.
The takeover process will be a central point on the agenda at the meeting, the report said. The meeting will be used to give shareholders the latest update about the possible takeover.
TMG announced yesterday that the company’s debts have increased significantly. By the end of April, the company had a net debt of EUR 13.3m. The company’s earnings decreased from EUR 137.6m to EUR 127.2m in the first quarter of the year, the report said.
TMG said that the increased debt has been largely caused by reorganisation expenses and because of the renewal of the radio license for its radio station Veronica. Constructive talks with banks are being held, the report noted.