Belgian takeover of Telegraaf cleared by Amsterdam court

The TMG headquarters in Amsterdam. Photo: Ilonamay via Wikimedia Commons

The acquisition of the Telegraaf Media Groep by Belgium’s Mediahuis is virtually assured after the Amsterdam company court rejected the attempt by media magnate John de Mol to buy the country’s largest newspaper.

Mediahuis agreed on 5 March to acquire TMG and now controls about 60% of the shares. De Mol’s investment arm Talpa has about 26% of TMG shares.

Talpa, supported by shareholders lobby group VEB, took Mediahuis to the Amsterdam company court demanding the appointment of an independent supervisor to look into the acquisition. The action was joined by two members of TMG’s executive board who were suspended after being accused of backing Talpa’s bid.

‘We are very disappointed with the decision of the company court and we are readying further moves,’Talpa said in a statement after the ruling on Tuesday evening.

If the Belgian acquisition goes ahead, all the main Dutch daily papers and many regional ones will be in the hands of two Belgian media groups. The Telegraaf is the biggest circulation Dutch daily.

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