A power struggle is intensifying for the German commercial broadcaster, ProSiebenSat.1. Czech investment group PPF has officially launched a rival bid to increase its stake, offering €7.00 per share in cash. This presents a more attractive alternative to the recent offer from MFE-MediaForEurope, backed by Italy’s Berlusconi family.
PPF, currently the second-largest shareholder with approximately 15%, aims to boost its ownership to 29.99%. This would match MFE's holding, creating a high-stakes battle for control over the broadcaster's strategic direction. The offer includes a 17% premium over ProSiebenSat.1’s Xetra closing price on 9 May 2025 and a 21% premium compared to MFE’s bid. “We put forward a compelling all-cash offer and intend to take a much more active role in the Supervisory Board going forward,” stated Jiří Šmejc, CEO of PPF Group. “We hope this is appealing to shareholders and stakeholders alike and paves the way for unlocking the potential of ProSiebenSat.1.”
PPF highlighted its long-term investment goals and confidence in ProSiebenSat.1's ongoing transformation. Didier Stoessel, PPF’s Chief Investment Officer, added, “Despite ProSiebenSat.1’s challenges and the turbulent market environment, I believe that the management has the right strategy in place, which we fully support.” The offer isn't a full takeover; PPF seeks significant influence via the Supervisory Board, offering shareholders a favourable exit strategy.
ProSiebenSat.1’s Executive Board welcomes the competing bid. Bert Habets, Group CEO of ProSiebenSat.1, commented, “PPF has been a long-standing investor in ProSiebenSat.1 having a deep understanding of our business.” He continued, “The Executive Board is supportive of PPF’s increased commitment to ProSiebenSat.1, as evidenced by the terms of its offer, and appreciates its support for our digital transformation strategy.” The broadcaster confirmed PPF's offer is financially superior to MFE's bid, providing immediate monetisation for investors without the long-term risks of the company's transformation.
PPF's move intensifies the battle for control of ProSiebenSat.1, with both investors vying for influence over a major European media player. The final decision now rests with ProSiebenSat.1’s shareholders.