MTG will therefore consolidate DTV´s results for the period up until 16 April 2008. The preliminary net gain (before elimination of MTG’s holding in CTC Media) from the transaction of approximately SEK 1.9 billion will be reported in MTG´s accounts for the second quarter and six months ended 30 June 2008.
MTG will report 60.5% of the net gain, corresponding to approximately SEK 1.1 billion, in its Group accounting as one-off operating profit in accordance with IFRS accounting principles. The remaining part of the gain will reduce the book value of the CTC Media, Inc. shareholding on MTG’s balance sheet. USD190 million will be received at this time in connection with the closing of the transaction, with the remaining part of the consideration to be received by MTG, with interest, no later than 100 days from the closing of the transaction.
For further information, please visit www.mtg.se, email firstname.lastname@example.org, or contact:
Hans-Holger Albrecht, President & CEO
tel: +46 (0) 8 562 000 50
Matthew Hooper, Investor & Analyst Enquiries
tel: +44 (0) 20 7321 5010
Bert Willborg, Press Enquiries
tel +44 (0) 791 2280 850