Bloomberg News

Central European Media Hits Two-Month High on Time Warner Loan

May 02, 2012

Central European Media Enterprises Ltd. (CETV:US) climbed for a sixth day in Czech trading to its highest in more than two months after saying Time Warner Inc. will provide a $300 million loan and will raise its stake in the company.

CME, as the broadcaster is known, increased as much as 7.6 percent to 159 koruna, its strongest intraday price since Feb. 22, before paring the rally to 4.9 percent at 155 koruna by 9:52 a.m. in Prague. That made the stock the best performer today in the 14-member PX (PX) equity index, which advanced 0.2 percent.

To contact the reporter on this story: Krystof Chamonikolas in Prague at kchamonikola@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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Companies Mentioned

  • CETV
    (Central European Media Enterprises Ltd)
    • $2.93 USD
    • 0.06
    • 2.05%
Market data is delayed at least 15 minutes.
 
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