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Italy's Mediaset acquires 9.6% stake in Germany's ProSiebenSat.1
2019-05-29 09:28:00| Telecompaper Headlines
(Telecompaper) Italian commercial broadcaster Mediaset has announced the acquisition of a 9.6 percent stake in German counterpart ProSiebenSat.1 for an undisclosed sum. The stake corresponds to up to 9.9 percent of ProSiebenSat.1's voting rights, excluding treasury stocks, said Mediaset, which has been touting the idea of creating a pan-European TV player for several months. In a statement, Mediaset CEO Piersilvio Berlusconi said: "the friendly acquisition of a stake in ProSiebenSat.1 is a long-term choice, aimed at creating value with an increasingly international outlook." He added that European media companies will need to join forces "if we are to continue to compete, or even just resist, in terms of our European cultural identity, eventual attacks by the global giants."
Tags: stake
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Category:Telecommunications
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