Family wants to stay long-term Berlusconi children increase ProsiebenSat.1 shares
September 25, 2023, 7:28 a.m. Listen to article
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In early September, Silvio Berlusconi’s children accepted their late father’s will to ensure a smooth transition of his business empire. They are invested in ProsiebenSat.1 with the media company MFE. Your right to have a say will increase in the future.
The family of the late media entrepreneur Silvio Berlusconi has restructured its almost 30 percent stake in the German television group ProsiebenSat.1. “We have now secured a direct stake in ProsiebenSat.1 of 28.9 percent, which corresponds to voting rights of 29.7 percent,” said the Germany boss of the Berlusconi holding Media for Europe (MFE), Katharina Behrends , the “Süddeutsche Zeitung”.
In June the direct share was 26.58 percent. Including financial instruments, MFE already had a total of around 29 percent. Behrends said MFE has no current plans to increase the stake. The ProsiebenSat.1 supervisory board confirmed that you are a long-term, strategic investor.
ProSiebenSat.1 6,69
She criticized the previous strategy. “So far, ProsiebenSat.1 has been a conglomerate of different business areas that don’t really fit together.” It is right to concentrate on the core area of entertainment. “By concentrating on building a streaming platform, the priorities are set correctly.”
Oldest children control MFE
Berlusconi died on June 12, 2023 at the age of 86. In early September, his five children accepted their father’s will to ensure a smooth transition of his business empire. According to their own statements, Marina, Pier Silvio, Barbara, Eleonora and Luigi Berlusconi forego the possibility of accepting inheritance via an inventory procedure. This would have made the probate process longer because liabilities and assets would have had to be checked.
In his will, Berlusconi gave his eldest children, Marina and Pier Silvio, the majority stake in the family holding Fininvest. Fininvest had assets worth 4.5 billion euros at the end of 2022. According to insiders, Marina and Pier Silvio hold 52 percent of the company, with the three other children holding the rest.
Marina and Pier Silvio have also been at the helm of the media and television companies Mondadori and MFE (Media For Europe), formerly Mediaset, for decades. The family holding also owns, among other things, 30 percent of the Italian asset manager Banca Mediolanum, which is currently valued at 1.8 billion euros.
2023-09-25 07:09:21
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