March 11, 2020 / 9:24 AM / 21 days ago

Mediaset considers ProSieben stake options, urges consolidation

MILAN, March 11 (Reuters) - Italian media group Mediaset is considering options for its 15.1% stake in ProSiebenSat.1 Media, CFO Marco Giordani said on Wednesday, adding that the need for the European TV industry to consolidate was now greater than ever.

Giordani told analysts on a conference call that Mediaset had structured its investment in its German counterpart so that it could leave if it wanted to.

He said Mediaset awaited a strategy update next month and would decide, based on it, whether “to stay, to leave or to increase” its investment. (Reporting by Douglas Busvine Editing by Riham Alkousaa)

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