Edition:
United States

Modern Times Group MTG AB (MTGb.ST)

MTGb.ST on Stockholm Stock Exchange

371.60SEK
21 Feb 2018
Change (% chg)

-2.60kr (-0.69%)
Prev Close
374.20kr
Open
375.00kr
Day's High
377.20kr
Day's Low
370.40kr
Volume
126,241
Avg. Vol
293,024
52-wk High
394.40kr
52-wk Low
273.30kr

Latest Key Developments (Source: Significant Developments)

MTG to sell Nova Group in Bulgaria
Monday, 19 Feb 2018 03:50am EST 

Feb 19 (Reuters) - MTG ::MTG ANNOUNCES SALE OF NOVA GROUP.SAYS ‍MTG SELLS ITS 95% SHAREHOLDING IN NOVA BROADCASTING GROUP IN BULGARIA TO PPF GROUP​.SAYS ‍ALL CASH TRANSACTION VALUES 100% OF BUSINESS AT AN ENTERPRISE VALUE OF EUR 185 MILLION​.SAYS ‍SALE OF NOVA WILL RESULT IN A NET CAPITAL GAIN, WHICH WILL BE REPORTED AS AN ITEM AFFECTING COMPARABILITY FOLLOWING CLOSING OF TRANSACTION.SAYS PROCEEDS WILL BE USED TO INVEST IN OUR NORDIC ENTERTAINMENT, STUDIOS AND GLOBAL DIGITAL ENTERTAINMENT BUSINESSES​.  Full Article

TDC shareholder AllianceBernstein does not support MTG merger
Thursday, 8 Feb 2018 10:53am EST 

Feb 8 (Reuters) - ALLIANCEBERNSTEIN, WHICH HOLDS 1.12 PERCENT OF TDC'S SHARES ACCORDING TO THOMSONREUTERS' DATA, SAYS IN AN EMAIL TO REUTERS::WE DO NOT BELIEVE PROPOSED MERGER WITH MODERN TIMES GROUP IS BEST COURSE OF ACTION TO MAXIMISE VALUE FOR TDC SHAREHOLDERS.THE BID FROM MACQUARIE AND THE THREE DANISH PENSION FUNDS CLEARLY DEMONSTRATES THE UNDERLYING VALUE IN TDC’S BUSINESS.WE ASK TDC'S MANAGEMENT TO ACTIVELY ENGAGE WITH ANY INTERESTED PARTY TO EXTRACT THE BEST POSSIBLE OFFER FOR ITS OPERATIONS.  Full Article

TDC Says Prefers MTG Merger Over Takeover Proposal From Macquarie, Danish Funds
Thursday, 8 Feb 2018 08:11am EST 

Feb 8 (Reuters) - TDC'S BOARD OF DIRECTORS SAID IN A STATEMENT::SAYS THE BOARD OF DIRECTORS CONTINUES TO CONSIDER PROPOSED COMBINATION BETWEEN TDC GROUP AND MTG NORDICS AS THE PREFERRED ROUTE TO CREATE INCREMENTAL SHAREHOLDER VALUE.SAYS IF AN OFFEROR MAKES A FINANCIALLY COMPELLING PROPOSAL AT ANY TIME, WE ARE ALWAYS PREPARED TO ENGAGE IN A CONSTRUCTIVE DIALOGUE.SAYS WE BELIEVE CONTROL OF TDC SHOULD ONLY BE CEDED FOR A PRICE THAT ADEQUATELY REPRESENTS THE FAIR VALUE OF THE COMPANY; THE CONSORTIUM’S PROPOSAL DOES NOT MEET THIS TEST.  Full Article

Sweden's MTG to sell MTG Nordics business to Danish TDC
Thursday, 1 Feb 2018 01:30am EST 

Feb 1 (Reuters) - MTG AB ::CREATING EUROPE'S FIRST FULLY CONVERGENT MEDIA AND COMMUNICATIONS PROVIDER; NEW MTG TO BE A FOCUSED GLOBAL DIGITAL ENTERTAINMENT PROVIDER.SAYS ‍HAS ENTERED INTO A DEFINITIVE AGREEMENT WITH TDC A/S ("TDC GROUP") TO COMBINE ITS NORDIC ENTERTAINMENT AND MTG STUDIOS BUSINESSES (TOGETHER "MTG NORDICS") WITH TDC GROUP​.SAYS BOARDS OF DIRECTORS OF BOTH MTG AND TDC GROUP RECOMMEND THEIR RESPECTIVE SHAREHOLDERS TO VOTE IN FAVOUR OF COMBINATION.SAYS KINNEVIK AB, WHICH OWNS 20.0% OF CAPITAL AND 47.6% OF VOTES IN MTG,3 HAS EXPRESSED ITS FULL SUPPORT FOR COMBINATION.SAYS ‍COMBINATION IS EXPECTED TO CREATE SUBSTANTIAL SYNERGIES, AN IMPROVED GROWTH AND EARNINGS PROFILE, AND HIGHER SHAREHOLDER RETURNS​.SAYS CEO OF TDC GROUP, PERNILLE ERENBJERG, WILL BECOME CEO OF NEW COMBINED COMPANY.SAYS COMBINATION IMPLIES A VALUATION OF MTG NORDICS OF SEK 19.55 BILLION ON A CASH AND DEBT FREE BASIS.SAYS ‍COMBINATION IS EXPECTED TO YIELD ANNUAL RUN RATE SYNERGIES OF APPROXIMATELY DKK 600 MILLION (SEK 790 MILLION), OF WHICH DKK 400 MILLION (SEK 530 MILLION) ARE OPEX AND CAPEX RELATED, AND WHICH ARE EXPECTED TO BE GRADUALLY REALISED OVER 3 YEARS UP TO END OF 2021​.SAYS MTG WILL ALSO RECEIVE AN ADDITIONAL CASH COMPONENT CORRESPONDING TO PRO RATA SHARE OF TDC GROUP'S ANNOUNCED 2017 DIVIDEND OF DKK 1.05 PER SHARE, EQUIVALENT TO APPROXIMATELY SEK 430 MILLION.  Full Article

MTG Q4 operating income lags forecasts, dividend higher
Thursday, 1 Feb 2018 01:30am EST 

Feb 1 (Reuters) - MTG ::Q4 SALES OF SEK 5,307M (4,297) WITH 10% ORGANIC GROWTH.Q4 OPERATING INCOME BEFORE IAC OF SEK 478M (418) INCLUDING TRANSACTION COSTS OF SEK 43M (21).Q4 TOTAL OPERATING INCOME OF SEK 161M (418) INCLUDING SEK -318M (0) OF ITEMS AFFECTING COMPARABILITY PRIMARILY RELATING TO IMPAIRMENT OF ZOOMIN.TV.SAYS BOARD OF DIRECTORS TO PROPOSE A DIVIDEND OF SEK 12.50 (12.00) PER SHARE.SAYS ‍MTG TODAY ANNOUNCED AN AGREEMENT TO COMBINE NORDIC ENTERTAINMENT AND MTG STUDIOS WITH TDC GROUP​.SAYS ‍MTGX REPORTED ITS FIRST QUARTERLY PROFIT AS WELL AS POSITIVE EBITDA FOR FULL YEAR.REUTERS POLL: MTG Q4 SALES WERE SEEN AT 5,105 MLN SEK, EBIT AT 516 MLN SEK, DIVIDEND AT 12.00 SEK/SHARE​.  Full Article

TDC Group Enters Into Agreement With Modern Times Group
Thursday, 1 Feb 2018 01:30am EST 

Feb 1 (Reuters) - Tdc ::: TDC : TDC GROUP ENTERS INTO AGREEMENT TO COMBINE WITH MTG’S NORDIC ENTERTAINMENT AND STUDIO BUSINESSES.‍TO CREATE EUROPE'S FIRST FULLY CONVERGENT MEDIA AND COMMUNICATIONS PROVIDER​.MTG NORDIC HAS BEEN VALUED AT SEK 19.55BN (DKK 14.86BN), ON A CASH AND DEBT FREE BASIS.‍TRANSACTION BRINGS TOGETHER TDC'S DIRECT-TO-CONSUMER OFFERING IN MOBILE, BROADBAND AND TV SERVICES​.‍COST SYNERGIES OF DKK 400M YEARLY WITH AN ADDITIONAL REVENUE POTENTIAL OF APPROXIMATELY DKK 200M.​.COST SYNERGIES OF DKK 400M YEARLY WITH AN ADDITIONAL REVENUE POTENTIAL OF APPROXIMATELY DKK 200M FROM DEAL.‍DIVIDEND UPSIDE DUE TO VALUE OF SYNERGIES AND TRANSACTION LEADING TO IMPROVED CAPITAL STRUCTURE​.‍BOARD OF DIRECTORS INTENDS TO INCREASE 2018 DIVIDEND PER SHARE (DPS) TO DKK 1.40​.SHALL PAY AT CLOSING OF TRANSACTION A CASH AMOUNT OF SEK 3.3BN AND ISSUE A TOTAL OF 308.9 MILLION TDC SHARES.‍2018 FINANCIAL RESULTS WILL BE IMPACTED BY MERGER WITH MTG NORDICS WITH EFFECT FROM CLOSING OF TRANSACTION.​.‍UPDATED FULL YEAR GUIDANCE FOR 2018 WILL BE PUBLISHED WHEN TRANSACTION CLOSES​.  Full Article

MTG sells TRACE stake
Friday, 19 Jan 2018 02:00am EST 

Jan 19 (Reuters) - Mtg Ab ::MTG SELLS STAKE IN TRACE MEDIA GROUP.SAYS ‍TRANSACTION VALUES 100% OF BUSINESS AT AN ENTERPRISE VALUE OF EUR 40 MILLION (APPROXIMATELY SEK 392 MILLION) AND CLOSING IS SUBJECT TO REGULATORY APPROVALS​.- SELLS ITS 75% SHAREHOLDING IN TRACE MEDIA GROUP TO TPG GROWTH.SAYS ‍SELLS ITS 75% SHAREHOLDING IN TRACE MEDIA GROUP TO TPG GROWTH​.SAYS ‍TRANSACTION VALUES 100% OF BUSINESS AT AN ENTERPRISE VALUE OF EUR 40 MILLION​.  Full Article

MTG CEO confirms 2017 forecasts
Wednesday, 29 Nov 2017 06:30am EST 

STOCKHOLM, Nov 29 (Reuters) - Swedish media firm MTG CEO Jorgen Madsen Lindemann to Reuters ahead of Wednesday's capital markets day::* Repeats sees higher sales, profit for MTG Group this year vs 2016.* Repeats expects MTGx, an important growth engine for the firm, to make its first profit in Q4 this year.* MTG made an operating profit of 1.35 bln SEK in 2016, on sales of 17.3 bln SEK.* MTG is in the midst of transforming from a traditional broadcaster into a digital entertainment firm, investing in online gaming, esports and digital video networks while divesting broadcasting operations.  Full Article

MTG Q3 operating profit just above forecast
Thursday, 19 Oct 2017 01:30am EDT 

Oct 19 (Reuters) - MTG AB :Q3 ‍sales of SEK 4,280m (3,657) with 7% organic growth​.Q3 ‍operating income up 83% to SEK 257m​.Reuters poll: MTG Q3 sales were seen at 4,195 million SEK, EBIT at 251 million SEK.Says ‍we have adjusted our expectations for MTGx's full year results​.Says ‍it remains our ambition to deliver a first quarterly profit for MTGx in Q4 of this year, but at a lower level than previously anticipated​.MTGx Q3 EBIT -38 million SEK vs -15.5 million SEK mean forecast.Says ‍this excludes potential non-cash write-down of up to SEK 35m​.Says ‍our objective remains to deliver profitable full year growth for group's continuing operations, as well as for Nordic Entertainment segment​.Says ‍organic sales development reflected 39% growth for MTGx businesses, including 49% organic esports sales growth​.  Full Article

MTG completes sale of baltic broadcasting businesses
Wednesday, 18 Oct 2017 05:30am EDT 

Oct 18 (Reuters) - MTG Ab says::Completes the sale of its baltic broadcasting businesses..Q3 ‍sale will result in a preliminary net capital gain, realized in Q4 results, of approximately SEK 580 million.​.  Full Article

BRIEF-MTG to sell Nova Group in Bulgaria

* SAYS ‍MTG SELLS ITS 95% SHAREHOLDING IN NOVA BROADCASTING GROUP IN BULGARIA TO PPF GROUP​