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ProSiebenSat.1 Media Investor PFF Offers Shareholders Alternative To MediaForEurope Takeover Bid
ProSiebenSat.1 Media investor PFF wants to increase its shareholding and has made an alternative offer to the offer MediaForEurope has on the table.
The last twist in the ongoing tussle over ProSiebenSat.1 Media ‘s future sees Czech investor PPF seeking to double its stake in the German broadcasting giant, challenging an existing takeover bid from MediaForEurope(MFE). However, both PPF and leading shareholder MFE, the Berlusconi family media business that owns 30.14% of shares, have previously questioned the pace of change and urged the disposal of non-core assets in the dating and e-commerce spaces. The two investors had appeared worked in lockstep, attempting to force change last year, but PPF CEO Jiří Šmejc recently said he had not seen the MFE offer in full and would reveal his position once that was clear.
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