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CME agrees to be acquired by Czech firm PPF in $2.1 bln deal

Oct 27 (Reuters) - Central European Media Enterprises Ltd (CME) said on Sunday it had agreed to be acquired by an affiliate of Czech investment group PPF in a cash deal valued at about $2.1 billion.

The affiliate of PPF will pay $4.58 per share in cash to shareholders of CME, which operates TV stations in the Czech Republic, Bulgaria, Romania, Slovakia and Slovenia.

The company's largest shareholder, AT&T Inc, has agreed to vote in favor of the transaction, CME said in a statement.

(Reporting by Ismail Shakil in Bengaluru; Editing by Peter Cooney)