Theodore Kyriakou, the Greek multi-millionaire, intends to amass a war chest of £2bn to target UK media acquisitions. Kyriakou said he would leverage the proceeds of the October sale of Nova, the Bulgarian assets of his Antenna TV company, to Modern Times Group of Sweden for €628m (£600m), to buy media companies, but “probably not newspapers”. Kyriakou, 34, scion of a shipping family, said that despite bad credit market conditions, he was looking at “between €1.25bn and €1.8bn of firepower” from the deal. Including the cash sum realised by the sale of Nova, that would give Kyriakou more than £2bn.

This entry was posted by Gwen Robinson on Monday, January 5th, 2009 at 5:29 and is filed under Capital markets, M&A, People. Tagged with Antenna TV, Modern Times, Theodore Kyriakou. Edit this entry.