Berlusconi media group MFE-Mediaset,
which already holds almost 30% of Prosieben, said Wednesday it
is launching a voluntary takeover bid on the German media group
"to increase its stake, with the goal of obtaining flexibility
and optionality".
The board of directors said it plans to offer a consideration
equal to the weighted average for the volumes of the last 3
months of the Prosieben stock, "which corresponds to the minimum
offer consideration by law", a value that could be around 5.7
euros, against a closing today at 6.5 euros. Mediaset already
has a binding agreement "with a current shareholder" who has
committed to irrevocably adhere to the offer and therefore it
"will in any case hold more than 30% of Prosieben's share
capital at the end of the offer".
The CEO of MFE-Mediaset, Pier Silvio Berlusconi, said "a change
of pace is needed, we are strengthening our role as an
industrial partner to support and sustain the company".
"We believe that Prosieben needs a solid shareholder who can
provide skills and experience in the sector".
The takeover bid, Berlusconi said, "is essential to be able to
concretely support Prosieben with a constructive approach and
create value for all shareholders, before it is too late".
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