James Murdoch’s planned entry into the capital of leading Swiss exhibition organiser MCH has hit an obstacle after a decision by the Swiss Takeover Board (TOB).
This content was published on
1 minute
Keystone-SDA/jc
MCH shareholders earlier this month approved an amendment to its statutes allowing Murdoch’s Lupa Systems investment firm to acquire up to 49% of the struggling Swiss company without a public takeover. However, according to the TOB decision, Lupa Systems will now have to make a public offer if it acquires a stake of more than 33.3% of MCH in conjunction with planned capital increases, an MCH press releaseExternal link said on Friday.
“The MCH Group will now analyse the TOB decision, determine the next steps to be taken and issue information on these,” says the statement.
MCH, which organises the Art Basel and Baselworld watch and jewellery fairs, has been hard hit by the coronavirus pandemic and is expecting a 50% drop in sales for the current year.
By having James Murdoch, the son of the media mogul Rupert Murdoch, join the group, MCH Group wants to get back on track financially. To this end, it is planning two capital increases for a total of up to CHF104.5 million ($114.3 million).
Popular Stories
More
Climate adaptation
Why Switzerland is among the ten fastest-warming countries in the world
This content was published on
Solar energy pioneer Raphaël Domjan and his team continued preparations for the altitude record attempt at 10,000 metres with the SolarStratos solar aircraft.
This content was published on
Cattle in the canton of Geneva and in the neighbouring region of Terre Sainte in the canton of Vaud are being vaccinated against the contagious viral skin nodule disease. The first cases of the animal disease were reported at the end of June in France, just outside Geneva.
Fewer attacks on Swiss ATMs but their future remains uncertain
This content was published on
Bank ATMs in Switzerland are less prone to attacks by criminals, but their future remains uncertain given the less active use of cash by the population.
This content was published on
A series of rockfalls occurred above the village of Brienz between 9 and 12 July. According to the municipality of Albula, the overall situation remains tense. Several people disregarded the ban on entering the area around the village.
This content was published on
Arosa Bergbahnen achieved the highest figure in its 95-year history in the 2024/25 financial year with net revenue of CHF 37 million. Arosa Lenzerheide was able to capitalise on strengths such as snow reliability and the size of the ski area in a long winter season, the company announced on Thursday.
This content was published on
Unknown perpetrators stole ceramic dental implants during a break-in at a company in Oensingen, northern Switzerland, on Tuesday night.
Euro 2025: Bern prepares for massive parade ahead of Switzerland-Spain game
This content was published on
The last Euro 2025 match to be played in Bern, the quarterfinal between Spain and Switzerland at 9pm on Friday, promises to be a great celebration of football.
Clariant faces further ethylene price-fixing claim
This content was published on
Swiss chemicals group Clariant is facing a further claim for damages in connection with ethylene price-fixing agreements.
This content was published on
The Grande Dixence dam in Lower Valais is closed to visitors due to a rockfall last weekend. The nearby hotel also had to temporarily suspend operations for safety reasons.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Murdoch becomes major shareholder in Swiss MCH group
This content was published on
James Murdoch, the son of media tycoon Rupert Murdoch, has been elected to the board of directors of the leading Swiss exhibitions group, MCH.
James Murdoch set to invest in Art Basel organiser
This content was published on
Lupa Systems, an investment company founded by James Murdoch in 2019, has been in negotiations with MCH Group for several months. On Friday, MCH Group reported that Murdoch’s company is keen to become an “anchor shareholder” in the MCH Group and take a 30-44% stake in the Basel-based exhibitions firm. Murdoch will also be given…
Plans for Baselworld 2021 watch fair up in the air
This content was published on
The organisers of the world’s biggest watch and jewellery fair have decided to temporarily shelve the event for 2021 following the exodus of major brands.
This content was published on
This year’s edition of the world’s biggest art fair, initially rescheduled until September, has now been cancelled altogether.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.