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Bertelsmann to Sell RTL Shares in Public Offering, Keep 75%

Bertelsmann SE & Co. KGaA said Thursday it will reduce its stake in RTL Group S.A. (RTL.BT) through a public offering of shares, but maintain a majority of at least 75% in the television broadcaster.The first day of trading for the offered shares is expected before the summer break, the German media group said in a statement. Bertelsmann holds a 92.3% stake in RTL, according to the broadcaster's website, so that the offering would likely result in a significant increase of the free float.In addition to the existing listing on the Luxembourg Stock Exchange and Euronext Brussels, RTL intends to apply for a listing at the Frankfurt Stock Exchange, Bertelsmann said.Write to Friedrich Geiger at friedrich.geiger@dowjones.comCopyright © 2013 Dow Jones Newswires...

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