According to reports, the board of Italian media company MediaForEurope (MFE) is meeting today to review a possible bid for Germany’s ProSieben.
The Italian media group, owned by the family of the late former Italian prime minister, Silvio Berlusconi, has long been rumoured to be interested in the German broadcaster.
MFE currently holds 29.9 per cent of ProSieben, just beneath the level at which a takeover bid would be mandatory under German law.
Reuters claims to have been informed by three sources that MFE has called a board meeting for this afternoon (March 26th), where it will review two possible moves for the German company.
According to the sources, both options include increasing its stake in ProSieben. It’s thought any bid would take place before ProSieben’s AGM on May 28th.
MFE has plans for a pan-European free TV hub and has reportedly raised €3.4 billion in financing to pursue its aim.
