Italy's MFE set to clinch Germany's ProSieben after PPF quits fight

Prosiebensat 1 Media SE

27/08/2025 18:33

PRAGUE, Aug 27 (Reuters) - Italy's MediaForEurope (MFE) MFEB.MI is set to take control of  ProSiebenSat.1 PSMGn.DE after Czech investment group PPF on Wednesday said it would sell its stake in the German broadcaster to MFE.

PPF said it would tender its 15.68% stake into MFE's offer and unwind its remaining financial instruments, ending its investment in ProSiebenSat.1 after attracting few takers for its own share purchase offer.

MFE, owned by the family of late Italian Prime Minister Silvio Berlusconi, is aiming to create a European television champion to challenge U.S. streaming giants such as Netflix NFLX.O and Amazon Prime AMZN.O.

It secured a 43.6% stake through its offer earlier this month, and shareholders have been given more time to tender their shares.

"MFE's shareholding is very likely sufficient to secure a simple majority at every ProSiebenSat.1 shareholder meeting," PPF said, explaining its decision to abandon the race.

"At the same time, PPF’s limited acceptance makes it impossible for PPF to continue its original role as a strategic investor."

Earlier this month ProSiebenSat.1 recommended its shareholders accept the latest public takeover offer from MFE, which values the German group at 1.8 billion euros ($2.1 billion), ending its resistance to the Italian group.

PPF said earlier this month it would not raise its offer after MFE sweetened its bid.

The results of MFE's offer are to be formally announced on September 4.

 (Reporting by Jan Lopatka
Editing by Mark Potter)

 ((jan.lopatka@thomsonreuters.com; +420 234 721 614; Reuters Messaging: jan.lopatka.thomsonreuters.com@reuters.net))