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MarketScreener Homepage  >  Equities  >  Mexican Stock Exchange  >  Grupo Carso, S.A.B. de C.V.    GCARSO A1   MXP461181085

GRUPO CARSO, S.A.B. DE C.V.

(GCARSO A1)
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Spanish businessman Herrero bids for PRISA's El Pais, other media assets

11/19/2020 | 08:22am EST
FILE PHOTO: Copies of El Pais newspaper showing Catalan President Puigdemont on its front page are seen in its printing press in Madrid

MADRID (Reuters) - Debt-laden Spanish media firm PRISA said on Thursday it had received an offer for El Pais daily and its other media assets from Spanish businessman Blas Herrero, driving up its share price.

PRISA did not specify how much Herrero and his unidentified partners offered for the media assets, although it said PRISA shareholders could keep stakes in the new media company.

News website El Confidencial and financial newspaper Expansion had reported Herrero, who owns radio station Kiss FM, and Spanish partners planned to offer more than 200 million euros ($236 million) in cash to buy PRISA's newspapers and its radio and TV stations.

Following the reports, the stock market regulator suspended trading of PRISA shares on Thursday morning. The share price jumped nearly 15% when trading resumed after PRISA confirmed it had received a bid.

With net debt of 1.1 billion euros at the end of September, PRISA is suffering from dwindling spending on traditional media advertising, exacerbated by the coronavirus pandemic.

PRISA, with a market capitalisation of about 510 million euros, also owns Cadena Ser radio station and Cinco Dias financial newspaper.

After restructuring its debt, PRISA announced last month the sale of the Spanish division of its education editorial group Santillana to Finnish group Sanoma Corporation for 465 million euros.

PRISA's main shareholders are activist fund Amber Capital with 29.84%, HSBC with 9% and Santander and Mexican billionaire Carlos Slim's Grupo Carso, both with around 4%.

Spanish telecom firm Telefonica has whittled down its stake in Prisa to 9.4% from the 13% it owned in 2016. A source familiar with the matter said the telecoms group wanted to sell its stake, but has made clear it would not be willing to do so at a rock-bottom price.

PRISA has lost half of its market value this year.

In the first nine months of the year, PRISA's net loss widened to 209 million euros from 110 million euros in the same period a year ago. Its shares closed at 0.719 euros on Wednesday.

(Reporting by Emma Pinedo and Jose Elias Rodriguez, additional reporting by Belen Carreño, Isla Binnie; Writing by Inti Landauro; Editing by Ingrid Melander)

By Emma Pinedo and Inti Landauro


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
GRUPO CARSO, S.A.B. DE C.V. -0.87% 65.13 End-of-day quote.-1.88%
HSBC HOLDINGS PLC 2.08% 411.35 Delayed Quote.6.37%
PROMOTORA DE INFORMACIONES, S.A. -0.98% 0.908 Delayed Quote.2.69%
SANOMA OYJ 0.82% 14.74 Delayed Quote.6.40%
TELEFONICA S.A. 0.75% 3.768 Delayed Quote.15.10%
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Financials
Sales 2020 93 098 M 4 743 M 4 743 M
Net income 2020 6 406 M 326 M 326 M
Net Debt 2020 13 042 M 664 M 664 M
P/E ratio 2020 23,2x
Yield 2020 -
Capitalization 148 B 7 480 M 7 522 M
EV / Sales 2020 1,73x
EV / Sales 2021 1,54x
Nbr of Employees 72 944
Free-Float 82,8%
Chart GRUPO CARSO, S.A.B. DE C.V.
Duration : Period :
Grupo Carso, S.A.B. de C.V. Technical Analysis Chart | GCARSO A1 | MXP461181085 | MarketScreener
Technical analysis trends GRUPO CARSO, S.A.B. DE C.V.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 57,27 MXN
Last Close Price 65,13 MXN
Spread / Highest target 7,48%
Spread / Average Target -12,1%
Spread / Lowest Target -22,0%
EPS Revisions
Managers and Directors
NameTitle
Ignacio Antonio Gómez García General Director
Carlos Slim Domit Chairman
Rafael Moisés Kalach Mizrahi Independent Director
Daniel Hajj Aboumrad Director
Marco Antonio Slim Domit Director
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