German Culture Minister Requests Meeting with Pier Silvio Berlusconi Over Prosiebensat Bid

ROME – The German government has requested a meeting with Pier Silvio Berlusconi regarding MFE's bid for the Prosiebensat radio and television group . "A change of ownership in a company like this would have a major impact," declared German Culture Minister Wolfram Weimer. "The potential acquisition would affect our country's media power structure." The letter from Berlin, to which the Cologne-based group responded positively, was sent on June 25, and the meeting will take place in early September .

Mfe on ProsiebenSat, the tug of war

MFE is Prosiebensat's largest shareholder with a 30.2% stake. On March 25, it launched a full takeover bid , a public purchase and exchange offer, offering shareholders €729 million in cash and €66 million in MFE A shares (or €4.48 in cash and €0.4 A shares for each German share, equal to €5.77). Czech company PPF also entered the fray with a partial takeover bid at €7 per share, aiming to increase its stake in Prosiebensat from 16% to 29.9%, countering Mediaset's rise.

MediaForEurope has meanwhile approved a €173 million capital increase to give itself more leeway in its operation. Now the Ministry of Culture has requested clarification, with a meeting with the CEOs of Mediaset and MFE , as reported by Reuters . "A change of ownership must not lead to a restriction of journalistic independence. Media power is never neutral; whoever buys must take responsibility for it."