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Czech billionaire ups stake in TF1, backs M6 merger plan

Czech billionaire Daniel Kretinsky has upped his interest in TF1 to 5.05 per cent and backed the proposed merger of the French commercial free-to-air broadcaster with erstwhile rival M6.

Kretinsky first took a 1-per-cent stake in TF1 in 2019 and has gradually increased his shareholding. He has raised his interest through the Luxembourg-based Vesa Equity, run by Kretinsky and his partner Patrik Tkac, and has now passed the 5-per-cent threshold.

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