The Berlusconi-owned group has reportedly arranged a 3.4 billion credit facility to fund its aim to resist the US giants
By Matthew Corrigan
Published: December 13, 2024 Updated: December 16, 2024
The Berlusconi-owned group has reportedly arranged a 3.4 billion credit facility to fund its aim to resist the US giants
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Media For Europe (MFE) aims to speed up its plan for a European free-to-air TV hub, according to a Bloomberg report.
The media group, which is owned by the family of the late former Italian prime minister, Silvio Berlusconi, has reportedly arranged 3.4 billion in financing to boost the pace of its plans. CEO Pier Silvio Berlusconi told reporters, We are ready to step up our international development strategy in order to resist the US giants.
According to Bloomberg sources close to the company, MFE is currently evaluating the purchase of assets in Portugal, the Netherlands and Poland, adding that executives had been in constructive talks with senior Bavarian officials around ProSieben.
The news follows speculation that MFE was moving towards a takeover bid for the German broadcaster, after the group increased its holding to 29.9 per cent just below the threshold at which a bid would be mandatory under German law. Berlusconi has stated super positive results are expected from MFE this year, while expressing frustration with ProSieben's strategy and performance.
The economic situation in Germany is very complex as of now and we'll look to understand it better before any possible moves, Berlusconi commented, not ruling out the possibility that the resources could be directed towards a move for ProSieben.
Pressure builds for ProSieben as Berlusconi's MFE calls for radical choices'
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The Berlusconi-owned group has reportedly arranged a 3.4 billion credit facility to fund its aim to resist the US giants
