Mediaset is considering whether “to stay, to leave or to increase” its investment in ProSiebenSat.1 Media, CFO Marco Giordani has revealed.
The Italian company currently holds a 15.1 per cent stake in ProSiebenSat.1. It awaits a strategy update due next month to decide its course of action.
Giordani told analysts that Mediaset had structured its investment in the German company so that it could leave if it wanted to.
He added that the need for the European TV industry to consolidate was now greater than ever.
Mediaset raised its stake from 9.6 per cent to 15.1 per cent in November 2019, prompting speculation of a possible merger between the companies.
According to reports, Mediaset is seeking to persuade ProSiebenSat.1 to join its pan-European TV company MediaForEurope, despite an ongoing court dispute with minority shareholder Vivendi.