UBS reiterates its Buy recommendation on the stock, with an unchanged target price of E50, representing a potential upside of 52% compared with the current price, following the announcement of the sale of RTL Nederland.

RTL announces the sale of RTL Nederland to DPG Media for a total consideration of 1.1 billion euros, representing 8.0x UBSe FY24E EBITA versus 5.5x Group EBITA', says the analyst firm.

The capital gain from the transaction will be largely tax-free and will amount to around 0.8 billion euros, says the group.

' The sale to DPG Media is the best strategic option for RTL Nederland and all its stakeholders. We are also looking forward to the strategic partnership with DPG Media, which will work closely together on European solutions in the areas of advertising and streaming technology, international advertising sales and joint content development', said Thomas Rabe, Chief Executive Officer of RTL Group.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.