The service company of TV Nova CME Media Service would merge with CET 21, which
owns the broadcasting licence for TV Nova. It means that advertising time would be sold to media houses by CET 21 instead of CME MS. According to company spokesman, the merger is another step in restructuring CME, aimed at simplification of company's structure.
Our view:
The merger seems to be a confirmation of a strategy to build a transparent holding and follows restructuring process at TV Nova, which started last year. We see news as neutral and reiterate our Buy recommendation for the stock.