Italy’s Mediaset Mulls Takeover of Spanish Unit, Ups Prosieben Stake
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.