Italy's RCS rules out bidding for Berlusconis' MFE (updated)

Rizzoli Corriere Della Sera Mediagroup SpA

11/07/2023 12:19

(Adds context, further quote)
       MILAN, July 11 (Reuters) - The chief executive of
Italian publishing company RCS MediaGroup  RCSM.MI  on Tuesday
dismissed speculation about a takeover attempt of top commercial
broadcaster MFE-MediaForEurope  MFEB.MI , controlled by the
Berlusconi family.
    "Something like that is the last thing that I would have
thought of. It's something that is really out of the question,"
RCS CEO Urbano Cairo told a press conference.
        The future of MFE has come into focus after the death of
founder Silvio Berlusconi last month. Fininvest, the Berlusconi
family holding, is the largest shareholder in MFE.
        "I took over RCS because it was possible given that more
than 60% of the company was on the market and it had become a
target. Mediaset (MFE) isn't," added Cairo, speaking at a
presentation of the schedule for his La7 TV channel.
  
        Cairo took over RCS, publisher of daily Corriere della
Sera and La Gazzetta dello Sport, in 2016.
  
        He said Italian regulation would prevent MFE from
acquiring the smaller RCS but that a reverse takeover attempt
would theoretically be possible, adding "I have never thought
about it even for a second."
  
        MFE Chief Executive Pier Silvio Berlusconi, the son of
the former prime minister, said last week that the family had
never discussed selling out of MFE, formerly known as Mediaset,
and 
    the company remained committed
     to expanding its European television business.    

 (Reporting by Giancarlo Navach, writing by Federica Urso and
Keith Weir
editing by Alvise Armellini)
 ((federica.urso@tr.com))