Shares in French TV company M6 soar on takeover offers

Shares in M6, the French television unit German media giant Bertelsmann has put up for sale, rallied on Monday after reports that initial offers by bidders had been filed.

Shares in M6 opened around 10% higher on the Paris stock market and were up 6.4%, at around 15 euros, at 0714 GMT.

Bloomberg News reported on Sunday French media mogul Stephane Courbit and his investor partners are said to have offered 20 euros ($19) a share.

Reuters on Friday reported a consortium of high-profile French entrepreneurs including billionaire Rodolphe Saade, Courbit of TV production group Banijay and investor Marc Ladreit de Lacharriere was in pole position to clinch a deal.

Italian broadcaster MediaForEurope, meanwhile, joined forces with French billionaire Xavier Niel with a view to a rival bid. euronews