Bertelsmann sets limits

Mohn vetoes new IPOs, except in new media sector

BERLIN — Bertelsmann boss Thomas Middelhoff has no plans to float other core business activities after listing on the stock exchange the TV powerhouse born from last week’s deal between its CLT/Ufa subsidiary and Pearson.

Bertelsmann patriarch Reinhard Mohn, whose family still has the last word at the group, has resolutely vetoed listing anything but new media activities. After managing to nudge the company’s founding father to the Bourse with the soon-to-be-named RTL Group, Middelhoff told German business daily Handelsblatt on Monday that the charge to the market would stop there for now.

“We have gone public with individual companies in the Internet sector,” he said. “I do not see any need to do so in other parts of our core business.”

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