Portugal's Cofina makes renewed offer for Media Capital acquisition
LISBON, Aug 12 (Reuters) - Portuguese publishing group Cofina made a renewed offer to purchase 100% of shares in Media Capital, who operates one of Portugal's biggest TV channels, competition watchdog CMVM announced on Wednesday.
The deal would make Cofina, which already owns tabloid Correio da Manha and business newspaper Jornal de Negocios among others, the country's biggest media group.
Media Capital, currently 94% owned by Spanish firm Prisa, operates TVI, one of the country's largest television channels. The deal requires approval from CMVM.
Cofina made an initial offer to buy the company in September 2019 but abandoned plans in March after a share sale needed to finance the deal was scuppered by financial market turmoil linked to the coronavirus outbreak.
The revised offer for the entirety of the firm values each share at 0.415 euros, an 82% drop from the offer made prior to the pandemic. (Reporting by Victoria Waldersee Editing by Chizu Nomiyama)
