Nick Vivarelli International CorrespondentItalian commercial broadcaster Mediaset announced on Monday that it will be holding a board meeting to decide whether to raise its stake in Mediaset Espana, following press reports that the company intends to gain full control of its Spanish TV unit.In a statement issued by its MediaForEurope subsidiary, Mediaset, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, said it will hold a board meeting on Monday or Tuesday “with a view to adopting eventual resolutions on the case.”“A study is being made of the strategy regarding the stake held in Mediaset Espana,” the statement said.Mediaset, which currently owns a more than 50% stake in Mediaset Espana, is believed to be mulling the launch of a takeover bid of the remaining more than 40% stake it does not own in the company, which has a market value of €1.6 billion ($1.8 billion) according to Bloomberg.
Shares in Mediaset Espana, which is Spain’s top private free-TV player, surged as much as 5.3% on Monday based on reports of the possible buyout attempt, causing the Spanish market regulator to suspend trading in the company.In a clear sign that Mediaset is in an overall expansion mode, MediaForEurope in a separate statement disclosed on Monday that it has crossed the 25% threshold in German broadcasting giant ProSiebenSat.1 beyond which it needs authorization from German regulators.MFE announced that “directly and indirectly,” it has crossed that threshold “through purchases of shares on the market.” The statement did not specify whether German regulators gave permission.Prosieben, which is Europe’s second-largest TV group in terms of TV home penetration, operates free-to-air and pay-TV channels in.
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