Berlusconi launches a voluntary takeover bid for Mediaset España

Guardar

Rome, 15 Mar (EFECOM) .- The Italian audiovisual group Media For Europe (MFE), the former Mediaset and controlled by the Berlusconi family, launched on Tuesday a voluntary takeover bid (takeover bid) of shares for its subsidiary Mediaset España. The offer, according to the specifications published by the National Securities Market Commission (CNMV), is directed to all the shares that make up the share capital of Mediaset España, of which the Italian parent company holds 55.69% of the shares. Specifically, MFE seeks 44.31% of the share capital of the Spanish company by offering 1.86 euros per share in cash and 4.5 euros in ordinary shares. The operation was expected by the market and that is why the Milan Stock Exchange decided today to temporarily suspend MFE's listing. The CEO of MFE, Pier Silvio Berlusconi, son of the magnate and former prime minister, explained that “the idea of strengthening geographical areas” where MFE “is already leading”, Italy and Spain, “always based the creation of a European television conglomerate”. Now, after disputes with the French group Vivendi, settled last year, MFE wants to start its “first economic and financial rationalization” with this operation that “will increase resources and scale” for its international development, the note reads. At the same time, MSF “will continue to invest” in the German company ProSiebenSat.1 with the idea of “strengthening European media” and at the same time “offering new growth opportunities to investors” by Mediaset Spain. “At a time like this, any activity that reinforces the European project and its identity in the ongoing globalization process is good news for our future,” Berlusconi concluded. The Mediaset group, controlled by the Berlusconi family, changed its name to MFE-MediaForEurope last November, although its subsidiaries Mediaset Italia and Mediaset España retain their name. In 2019, the group tried to merge Mediaset Italia and Spain to create an audiovisual giant capable of competing against platforms like Netflix, but the Italians' judicial disputes with French partner Vivendi brought the operation to a standstill. MFE has a market capitalization in Milan of 1,334 million euros and this Monday its shares rose 3.7% in the middle of the session, to 1.16 euros. CHIEF gsm/pddp