The broadcasting group is investing in the Post subsidiary in the single-digit percentage range.
Bank99 is a subsidiary of Austrian Post.
The broadcasting group ProSiebenSat.1-PULS4 is investing in the new bank subsidiary of the listed Austrian Post. The Post announced on Thursday that there will be an option to participate in the counter-transaction for advertising.
The deal is entered into with the investment arm of the broadcasting group, SevenVentures Austria GmbH. As a result, bank99 expects more TV presence in the private broadcasting group. According to the business magazine “trend”, the participation is in the single-digit percentage range.
SevenVentures is already cooperating with the Post's online platform, shöpping.at, based on the same model. SevenVentures has a participation option between 14 and 19 percent that can be realized in 2023. Among other things, this deal is thanks to the platform's popularity and access numbers, writes the Post.
Shöpping now offers 2.8 million products from more than 1,600 Austrian retailers. The retail turnover tripled in 2020 compared to the previous year, around 500,000 parcels were sent via the online marketplace.
More intensive cooperation possible
Markus Breitenecker, CEO of ProSiebenSat.1-PULS4 writes in the mailing of the Post, “I do not rule out that we will cooperate even more intensively in the future.” Daniel Zech, Head of SevenVentures Austria & Switzerland, also writes: “This is just the beginning: We are continuing our investments in Austrian medium-sized companies.”
According to Post, bank99 has 70,000 customers. Up to now, 80 percent of it belongs to Swiss Post and 20 percent to Grazer Mutuals (GraWe).
