MILAN, April 15 (Reuters) – MFE-MediaForEurope (MFEB.MI), opens new tab, the TV group led by Italy’s Berlusconi family, held talks in recent months with various banks ready to fund a potential bid for German peer ProSiebenSat.1 (PSMGn.DE), opens new tab worth up to around 4 billion euros ($4.3 billion), according to people close to the matter and documents seen by Reuters.
While MFE has indicated it could consider a buyout offer for ProSieben only once the latter shed its non-core assets, the endorsement by banks of a potential takeover strengthens MFE’s hand in the shareholder battle the two broadcasters have engaged in ahead of ProSieben’s annual general meeting (AGM) on April 30.
Dutch-based MFE is the single-biggest investor in ProSieben with a near 30% stake it started building in 2019 as part of plans to create a pan-European TV platform.
MFE wants ProSieben to divest its digital businesses and is seeking other shareholders’ support for an AGM resolution to push the Bavarian group to start assessing a spin-off of its online assets, comprising e-commerce and dating services.
Though it has no plans at present to mount a buyout, MFE held discussions late last year and in early 2024 with lenders interested in financing a potential offer for the whole of ProSieben, the documents seen by Reuters showed.
Source: REUTER
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