The Czech major shareholder PPF wants to have more influence with the media group ProSiebenSat.1. According to a message from Monday, PPF plans to offer 7 euros per share in cash and thus increase the participation from currently almost 15 to up to 29.99 percent.
This would remain PPF under the threshold of 30 percent, from which an offer would be mandatory for the entire group. The offered 7 euros are a good 17 percent above the closing price on Friday and even more clearly above the implicit takeover offer of the ProSiebenSat1 Media SE major shareholder Mediafore Europe (MFE mediaurope) (MFE) (MFE). For the ProSiebenSat.1 shares, it went up on Monday. The board of ProSiebenSat.1 has expressed a positive statement about the PPF offer.
The offer enables an expansion of the participation to a level similar to MFE, PPF continued on Monday. The Czechs also strive for a corresponding representation on the Supervisory Board. This should ensure a new focus of the committee, which is the management of ProSiebenSat.1
Allow to implement the existing strategy and the operational business
drive forward.
Power struggle between the ProSiebenSat.1 major shareholders for shares
There is a power struggle for the media group between the ProSiebenSat.1 major shareholders from Italy and the Czech Republic. Shareholders of the free float who want to sell can now select between two offers. The PPF group, founded in the Czech Republic, announced a higher offer than that recently presented the Berlusconi Group MFE Mediafore Europe (MFE) in Milan. For the ProSiebenSat.1 share price, it went up steeply on Monday.
Behind the offer is a show of strength. The general meeting of the television group in Unterföhring near Munich is eagerly awaited on May 28. While the group board has not yet commented on the MFE offer, he welcomed the offer from PPF.
Group under pressure – job cuts
The offers fall at a time when the group at which the streaming platform Joyn and television station such as ProSieben, Sat.1 and cable one wants to reduce jobs again. A good 400 jobs should be lost.
Clear differences in the offers
While the Milan TV Group MFE has submitted a takeover offer -i.e. wants to bring over 30 percent -the Czechs have a different goal. They want to come from the current 15 percent to just below the 30 percent mark, but they do not strive for a takeover.
PPF makes no secret of the show of strength with the Milanese and described its own offer as a “attractive alternative” in a message. PPF offers 7 euros per share. On Friday, the paper went out of the trade at less than 6 euros. On Monday, the share price shot up to 7.03 euros by almost a fifth.
What mfe wants to pay
Meanwhile, the Milanese want to pay 4.48 euros. In addition, there is a share of 0.4 percent of an MFE share per share sold – MFE wants to get the statutory minimum price of 5.74 euros per paper sold. The acceptance period for the offer from Milan ends on June 6th.
According to the ProSiebenSat.1, there are more than 50 percent (as of the end of 2024). MFE was already near the 30 percent mark ./rin/dp/mis
The ProSiebenSat.1 share ultimately jumped up by 18.61 percent on Monday via Xetra.
Frankfurt (dpa-AFX) /
Unterföhring (dpa-Afx)
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