Nick Vivarelli International CorrespondentTop Italian commercial broadcaster Mediaset, which is being rebranded as MediaForEurope (MFE), is launching a bid to gain full ownership of its Spanish unit Mediaset Espana in move touted as a first step in its stated plan to gain scale in Europe.The company, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, after a board meeting late on Tuesday revealed that it has given the go-ahead for a public offer in cash and shares to buy the 44.31% stake it does not already own in Mediaset Espana, which is Spain’s leading private free-TV player.
MFE is valuing the Mediaset Espana stake at roughly €780 million euros ($854.6 million).“The offer represents an important step forward in the creation of a pan-European media and entertainment group,” MFE said in a statement.
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