PPF and MFE clashing over control of ProSiebenSat.1

Czech investment group PPF has announced its intention to increase its stake in the German media company ProSiebenSat.1 to 29.99%. It offered €7 per share, a 17% premium to the last closing price and 21% more than the offer of the Italian MFE-MediaForEurope group, which is €4.48 per share.

PPF, which has so far held 14.94% of the shares in ProSiebenSat.1, is trying to get closer to the share of MFE, which owns 30.14% of the shares. PPF's goal is to gain greater influence in the company's Supervisory Board and support its digital transformation.

MFE, controlled by the Berlusconi family, is considering increasing its offer in response to PPF's move. MFE owns commercial TV stations in Italy and Spain and is looking to strengthen its position in Europe in the face of growing competition from US streaming giants.

ProSiebenSat.1 is the largest privately held television group in Germany, operating 15 free and pay-TV channels, the Joyn streaming platform and other media activities. The company employs approximately 7,000 people.

The battle between PPF and MFE for control of ProSiebenSat.1 reflects a broader trend of consolidation in the European media sector, where traditional media companies face the challenges of digital transformation and competition from global players.