Belgian media group Mediahuis said on Wednesday that it would continue in its bid for Amsterdam-based Telegraaf Media Groep, parent of the country’s largest daily newspaper the Telegraaf.
Mediahuis said it now had the support of two of TMG’s largest shareholders who hold a combined 55% of the shares, the Telegraaf reported.
Mediahuis is making its €5.25 a share bid with the support of VP Exploitatatie, the investment vehicle of the Van Puijenbroek family, TMG’s largest shareholder which has been involved with the newspaper group for generations.
So far Navitas (the Zeeman family) and Delta Lloyd Asset Mangement has agreed to support the joint bid. But Mediahuis wants 95% support so it can remove TMG’s listing on the bourse.
If the bid succeeds, all the main Dutch daily papers and many regional ones will be in Belgian hands.