The Czech group PPF is exiting ProSiebenSat.1 and tendering its 36,539,628 shares (equivalent to 15.68 percent of the German media group) to MFE-Media For Europe, the Berlusconi family-controlled Italian group.
PPF, the second largest shareholder, had launched a takeover bid at €7 with the aim of acquiring 30 percent of the capital, but the market did not respond. MFE’s offer, just over €8, convinced investors. “With over 60 percent of the voting rights,” PPF stated, “MFE’s stake is sufficient to guarantee a simple majority at the shareholders’ meeting.”
With ProsiebenSat.1, MFE will exceed €6.8 billion in revenues and reach a potential audience of 300 million viewers in Germany, Italy, Spain, Austria, and Switzerland.
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