ProSieben investor General Atlantic opts for Czech PPF offer, shuns MFE, sources say
By taking PPF's cash offer of 7 euros ($8.17) per share for ProSieben, General Atlantic is going against the endorsement of ProSieben's management for a higher rival offer by MFE-MediaForEurope, which is partly paid in MFE shares, indicating that MFE faces some difficulties in its bid for control over ProSieben.
General Atlantic, PPF and ProSieben declined to comment. MFE did not immediately respond to a request for comment.
($1 = 0.8567 euros)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
29 minutes ago
- The Independent
Labour can't hit ‘working people', so now they're after people who used to work
Labour has got itself into a cleft stick. Having come to power on a pledge of not raising taxes on 'working people,' in response to the opposition charge that it cares more about those who don't work, that raising money from the employed goes to help those who choose to be unemployed, Sir Keir Starmer and Rachel Reeves are stuck. They are faced with a deficit of £50bn, give or take, for which they can no longer blame the Tories – that legacy was half. It's down to their failure to drive the economy, to achieve as they insist, 'faster and further' growth. It's just not happening, and, meanwhile, they have that hole to fill. They can't borrow extra because another reason that the chasm is so large is due to higher-than-expected borrowing costs. They dare not cut services because that would alienate their bedrock, and 'austerity' is what Tories do, not them. So, they cast around for tax targets. However, they can't alight on those who are putting in the hours and earning by aiming for income tax, employee national insurance, or VAT, because that would betray the election promise. So, they pick those who once worked. Inheritance tax, or IHT, or as it's popularly known, 'death duty,' is in their crosshairs. At present, inheritance tax is 40 per cent on estates above £325,000. But there is no limit on how much can be gifted to relatives tax-free if the giving is made seven years before someone dies. If it's within seven years, then a sliding scale or 'taper relief' applies. The rate drops each year, from 32 per cent to 8 per cent. Those who think they, or rather their inheritors, may be clobbered duly give it away in good time. The result is that inheritance tax is paid by only around four per cent of estates. In the eyes of Reeves and her advisors, that is too little. They know that people are sitting in homes that have soared in value and possess gold-plated pension pots, and they want some of it. They are looking at imposing a lifetime cap on how much can be gifted and/or changing the rules on taper relief. To ensure, in other words, that IHT is not so easily avoided and that the four per cent figure increases enormously. What's not to like? Politically, those affected are the better off, who are not natural Labour voters. It is not earned money, in the sense that property prices and pensions have risen since they ceased to work. It's fair game to grab it. Indeed, that is precisely what a source with knowledge of the work told the Guardian: 'It's hard to make sure these taxes don't end up with loopholes that undermine their purpose. But we are trying to work out what revenue might be raised and how to ensure it's a fair approach.' Labour has form for this. It's exactly what this government did to the farmers, except there it was farmers with land worth more than £3m. Reeves said this week she believed they 'should make a contribution.' These are weasel words. Reeves is ignoring the fact that they have already contributed, as presumably, she and her colleagues are doing so again, by claiming they are looking to be 'fair'. Apparently, one of the motivators is that they are not keen on a wealth tax as many of their supporters would like because that will serve to encourage the wealthy who can do so to leave the country, and there is evidence to suggest that is already happening, and would damage attempts to encourage greater investment to galvanise the economy. But how is this any different? It still sends the same signal that Labour sees the rich and not even that rich, as ripe for plundering. However it is dressed up and spun, the message is clear: you don't want to work and make some money under Labour, because they will get you. Ignoring the working and selecting those who worked may cleverly satisfy their political and fiscal ambitions, but it fools no one. Under Labour, it really does pay not to work.
BreakingNews.ie
30 minutes ago
- BreakingNews.ie
Irish mortgage rates continue to fall but still above euro zone average
Irish mortgage rates continue to fall and are now at their lowest level since March 2023. The gap between the average rate in Ireland and that of the euro zone also continues to narrow. Advertisement The average Irish mortgage rate is now 3.60 per cent, down from 4.11 per cent in June last year, according to the Central Bank of Ireland. This compares to the euro zone average of 3.29 per cent. However rates varied hugely across the currency bloc as they have done for years – from as low as 1.72 per cent in Malta to as high as 4.15 per cent in Latvia. Wide variations also exist within Ireland. An analysis by price comparison site shows that for the average first-time buyer borrowing €300,000 with a 10 per cent deposit, variable rates range from 3.18 per cent to 4.70 per cent. Ireland Over 300,000 households in arrears on electricity... Read More Daragh Cassidy from said the drop in the average mortage rate was good news for first-time buyers. Advertisement "At present, there's still a likelihood the ECB will cut rates once more before the end of the year, meaning mortgage rates should creep slightly lower over the coming months," he said. "But the 3.60 per cent average rate really is just that – an average. "There are 10 lenders in the Irish mortgage market at present and there's a wide variation in rates across them all. And different lenders offer different cashback deals and incentives, which also need to be taken into account."
The Sun
30 minutes ago
- The Sun
Aldi reveals the best time to shop in store this summer to find best deals including Specialbuys
ALDI has revealed the best time to shop in store this summer to find the best deals. With the summer holidays in full swing, many shoppers may be looking for ways to avoid busy crowds. 1 The German discounter said over the school break the hours between 8am and 10am are among the quietest. Most of the brands' supermarkets open at 7am or 8am, so getting there as soon as doors open can give you a chance to dodge the crowds. If you are planning a trip on Thursday or Sunday, getting there early can also give you a chance to get your hands on the latest Specialbuys. These are bargain products located in the store's middle aisle and can include everything from a bargain Ninja Air Fryer dupe to stylish garden furniture. You can check out what is heading to stores by picking up a booklet in store or looking on the Aldi website ahead of your next shop. But if you have your sights set on an item, you need to act quickly because once it's gone, it's gone. This week, shoppers can pick up soft toys for children and a range of pet care items. And you don't need to be an early riser to have a savvy shop at Aldi. The budget chain said late afternoons from 4pm to 5pm, and evenings between 8pm and 10pm are also a good time to shop if you're looking to dodge a swarm of shoppers. Heading later in the evening could also up your chances of scoring discounts on food. All upcoming 'Aldi Finds' in the middle aisle next week – including portable chargers, power toothbrushes & dryer balls The store also has red stickers to show an item has been reduced, unlike the yellow ones you may see in Tesco or M&S. So be sure to keep your eyes peeled for the coloured labels. Aldi said: "Bakery, meat, and deli items nearing their best-before dates often receive significant markdowns at Aldi, with discounts of up to 75%. "While specific times can vary, focusing your search towards closing time is generally a good idea." MORE ALDI NEWS This summer, the supermarket has been giving away a free £50 voucher every single day. The scheme has been running since July and is due to end this month. To be in with a chance of bagging one of the vouchers, parents simply need to send their name and email address to SummerSupportScheme@ There are no lengthy forms or complicated sign-ups – just one quick email to apply. Each day, one family will be picked at random and awarded a £50 Aldi voucher to spend in store on whatever they need. BEST TIME TO HIT THE SHOPS And it is not just Aldi which has shared insight into the best time to hit its shops. Tom Church, co-founder of discount code website said fans of B&M to head to its stores a Wednesday. He previously said: "This is when most of the new reductions are dropped." Meanwhile, if you are planning a trip to Home Bargains then it is best to head there first thing in the morning to grab the best deals. That is because most the larger Home Bargains stores get deliveries at around 7:30am everyday. How to save money on summer essentials SUNNIER days and warmer weather will leave many of us wanting to kit out gardens and outdoor areas. Sun Savers Editor Lana Clements explains how to get a great deal on summer essentials… It pays to know how to bag big savings on the likes of hot tubs paddling pools, egg chairs and outside bars. Many retailers have flash sales across entire ranges – often this ties into payday at the end of the month or Bank Holiday weekends. Sign up to the mailing lists of your favourite brands and you'll be first to know of special offers. It can be worth following retailers on social media too. Keep a close eye on the specialbuys at Aldi and middle of Lidl drops which drop a couple of times a week and usually mean great value seasonal items such as beach gear and paddling pools. If you are not in a hurry to buy an item, try adding it to the shopping cart and leaving it for a couple of days. Sometimes big brands will try to tempt you into the sale by offering you a discount. Always check if you can get cashback before paying. It's especially worth using sites such as Topcashback, Quidco and app Jamdoughnut when buying bigger ticket items such as garden furniture as you'll get a nice kickback.
