CMVM lifts trading suspension on Cofina shares


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The Portuguese Securities Market Commission (CMVM) has lifted today the suspension of negotiations of Cofina’s shares, which was in effect since Friday, when it was reported that Cristiano Ronaldo would be an investor in Cofina Media.

CMVM lifts trading suspension on Cofina shares

The lifting of the suspension of trading in Cofina, SGPS, SA shares occurs “following the disclosure of relevant information to the market,” says the CMVM.

On Friday, the CEO of Cofina Media, Luís Santana, confirmed to Lusa that footballer Cristiano Ronaldo is an investor in the company’s ‘Management Buy Out’ (MBO), which is being prepared by a group of executives, after ECO reported that Ronaldo would become a reference shareholder of Cofina.

CEO of Cofina Media, Luís Santana
CEO of Cofina Media, Luís Santana

“To count on Cristiano Ronaldo, the best footballer ever, an exceptional athlete who shares the values of demand, rigor, hard work and resilience, as an investor is naturally a great source of satisfaction for the team that is developing the Management Buy Out of Cofina Media, which will be presented to the shareholders in due course”, concluded the executive director of Cofina Media.

On May 30, Luís Santana had confirmed that, together with company management, he was preparing an MBO, guaranteeing that “at no time will he be held hostage to any kind of interests.

Cofina Media owns Correio da Manhã, CMTV, Jornal de Negócios, Record and Sábado, among others, and an MBO happens when a company is bought by its managers.

“I and a group of Cofina Media’s executives are preparing a ‘Management Buy Out’, which we plan to present in due course to the company’s shareholder, with whom we have not held any kind of negotiations,” said Luís Santana at the time.

When they were suspended, Cofina’s shares were up 16.13% to €0.36.

Luís Santana confirms Cristiano Ronaldo as an investor in Cofina Media

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