Question mark over Bundesliga's TV deal

0 Comments | AFP, April, 2007

MUNICH, Germany (AFP) — A question mark appeared to be hanging Wednesdsay over the recent deal struck by German pay-television companies Premiere and Arena over the broadcasting rights of German premier league Bundesliga matches.

The announcement sent Premiere shares into a tailspin on the Frankfurt stock exchange, where they were showing a loss of 1.41 euros or 8.18 percent at 15.82 euros in late morning trade.

The shares thereby gave up the strong gains they had made the previous day when Deutsche Bank had raised its price target on the stock and upgraded its recommendation to "buy" from "hold".

Premiere said in a statement that it had partially suspended the deal with Arena in face of reservations on the part of the competition authorities.

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