Mediaset, Pier Silvio Berlusconi’s half victory: who places in Prosieben

The awaited shareholders’ meeting of Prosiebensat1German broadcaster of which Mfe-Mediaset is a shareholder with almost 30% of the share capital, ended with a half-victory for the leaders of Cologno Monzese. If, in fact, on the one hand, Mfe’s motion on the study of a spin-off project for non-core activities was rejected by the meeting – the spin-off proposal was in fact voted by approximately 71% of the capital present but did not reach the 75% threshold required for approval.

On the other hand, however, the two main partners of the group (MFE and PPF) have strengthened themselves in Supervisory Board. The nine-member body will from now on see the presence of four representatives indicated by Mfe (Leopoldo Attolico and Simone Scettri elected yesterday, the general manager of Mfe in Germany, Katharina Behrends, elected last year and Thomas Ingelfinger elected a year ago as independent) and two representatives indicated by the Czech Ppf group which holds 15% of the capital (Klára Brachtlová, and Christoph Mainusch). And this is certainly an important first step for the managers of Mfe-Mediaset.

«Although the resolution of Mfe-Mediaset for the independent evaluation of a spin-off of the non-core activities has not been formally approved, over 70% of the shareholders voted in favor of the motion» we read in a note released by Biscione, «in light of this result, Prosiebensat’s management will now have to accelerate the execution of its strategy to focus on its core entertainment business». Mfe, continues the note from the holding company led by Pier Silvio Berlusconi«is convinced that the Supervisory Board, in this new and improved composition, finally has the right know-how to carry out its tasks and implement what has been announced by management».

Mfe, beyond the disappointment, is satisfied that all the proposed motions received a large majority of votes” continues the note, “the Assembly has demonstrated that the simple fact of having started the discussion has created a significant added value. And our proposals achieved the desired objective: to accelerate the process of valorising Bottles and Verivox after months of inactivity”.