KIEV, Aug. 20 - Privat, the diversified business group that owns Privatbank, Ukraine's largest commercial bank, will spend $100 million to buy a 40% stake in Studio 1+1, the country's second most popular television network, the group's co-owner said.

The stake will be purchased from two businessmen, Oleksandr Rodnianskiy and Boris Fuksman, and was already approved by Central European Media Enterprises (CME), a company owned by U.S. billionaire Ronald Lauder, who owns the remaining 60% in the network, Ihor Kolomoyskiy, the co-owner of Privat, said.