The Securities Market Commission (CMVM) on Monday lifted the suspension of trading in Cofina shares, which had been in effect since Friday, when it was announced that Cristiano Ronaldo would be an investor in Cofina Media.
The lifting of the suspension of trading in the shares of Cofina, SGPS, SA will take place “after relevant information has been disclosed to the market”, according to the CMVM.
On Friday, Cofina Media’s executive director Luís Santana confirmed to Lusa that the footballer Cristiano Ronaldo is an investor in the “Management Buy Out” (MBO) company, which is being prepared by a group of employees, after ECO reported that Ronaldo would be a reference shareholder being in Cofina.
“Having Cristiano Ronaldo, the best footballer ever, an exceptional athlete who shares the values of demand, rigor, hard work and resilience, as an investor is of course a great source of satisfaction for the team developing Cofina’s Management Buy Out. ” Media, which will be presented to the shareholders in due course”, concludes the executive director of Cofina Media.
On May 30, Luís Santana had confirmed that he was preparing an MBO together with the company’s staff, guaranteeing that “at no time will he be held hostage by any interests”.
Cofina Media owns Correio da Manhã, CMTV, Jornal de Negócios, Record and Saturday, among others, and there is an MBO when a company is bought by its managers.
“A group of Cofina Media employees and I are preparing a ‘Management Buy Out’, which we will present in due course to the shareholder of the company, with whom we have not conducted any kind of negotiations,” Luís Santana said at the time.
When they were suspended, the Cofina share rose by 16.13% to 0.36 euros.
Source: DN
