Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Italy’s top commercial broadcaster MFE has built a potential stake of up 29.9% in the Munich-based rival as part of its ambition to consolidate the European TV sector.
“As of now, honestly, we cannot talk of a merger, and would be absurd talking about a takeover bid,” MFE Chief Executive Pier Silvio Berlusconi said at a press briefing at the company’s Italian headquarters near Milan.
Earlier this week, MFE said it would complete a planned merger with its Spanish-listed subsidiary, as part of its strategy to build a European TV champion to help counter the might of U.S. streaming giants.
Prosiebensat.1 has so far shown little interest in any strategic deal with MFE, which first invested in the German TV group in 2019.
The MFE CEO said Prosiebensat.1’s…
