Italian MFE’s finance chief: No plans to take over ProSieben for the time being

The emblem of German media firm ProSiebenSat.1 is seen in entrance of the headquarters in Unterfoehring close to Munich, Germany, November 5, 2020. REUTERS/Andreas Gebert

BERLIN, March 21 (Reuters) – Broadcaster MediaForEurope (MFE) (MFEA.MI), (MFEB.MI) has no plans to make a takeover bid for German competitor ProSiebenSat.1 (PSMGn.DE) for the time being, the Italian agency’s finance chief advised each day Handelsblatt.

“Presently, we now have no such plans. What shall be in a yr’s time, we’ll see then,” Marco Giordani was quoted as saying by Handelsblatt on Monday.

MFE, previously Mediaset, is managed by the household of Italy’s former Prime Minister Silvio Berlusconi. It introduced final week that it already had a stake of greater than 25% in ProSiebenSat.1.

At greater than 30%, the Italian firm must make a compulsory provide to the remaining ProSieben shareholders in keeping with German regulation.

Thus far, MFE is just not represented in ProSieben’s supervisory board. Two seats are as a consequence of be reassigned on the group’s shareholders assembly in Might, in keeping with Handelsblatt. Candidates are former RTL boss Bert Habets and Rolf Nonnenmacher, who has been on the committee since 2015, the paper mentioned.

Giordani mentioned he would hope for a candidate that shall be totally supported by MFE. In any other case MFE might recommend rival candidates. “In any case, these wouldn’t be MFE representatives however unbiased managers with the appropriate qualification,” the finance chief mentioned.

Reporting by Klaus Lauer; Writing by Zuzanna Szymanska, modifying by Kirsti Knolle

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