Portugal’s financial regulator has suspended trading in shares of media group Impresa, anticipating the announcement of a significant ownership development involving an Italian media powerhouse.
The Portuguese Securities Market Commission (CMVM) announced the halt on Friday, citing the need for “disclosure of relevant information to the market” without providing further details.
This regulatory action comes amid market reports suggesting Italian broadcaster MFE, controlled by the family of late former Prime Minister Silvio Berlusconi, is poised to acquire a stake in Impresa.
Media outlets, including Jornal de Negócios and Sábado, have reported that negotiations between Impresa and MFE are nearing completion, with MFE expected to initially take a minority position.
The Balsemão family, Impresa’s current controllers, is anticipated to maintain its majority hold for now. Some reports indicate the Italian investment could be a strategic first step toward eventual full control.
Impresa, which owns Portugal’s SIC television channel and the Expresso newspaper, had its shares trading up 1.48% at €0.28 (approximately $0.30 USD) before the suspension.
A total of 323,139 shares had been transacted Friday morning prior to the halt.
This is the second time in recent months that the CMVM has suspended Impresa’s shares.
In late September, trading was briefly paused to allow the market to absorb news that Impresa was in talks with MFE for a “significant stake” acquisition.
At that time, Impresa confirmed it was in negotiations following an initial report by Italian newspaper Il Messaggero about MFE’s interest.
An official source for Impresa Group, contacted earlier regarding the reports, declined to comment specifically. The source stated the company “will always communicate relevant information to the market” as legally required.