August 7, 2019 / 7:19 AM / 4 months ago

ProSieben welcomes Mediaset as shareholder, tight-lipped on next steps

FRANKFURT, Aug 7 (Reuters) - German broadcaster ProSiebenSat.1 said on Wednesday it welcomed Mediaset as a shareholder, but declined to speculate on where the engagement would lead after the Italian company said it was open to a merger.

“We have very good relations with Mediaset,” ProSieben CEO Max Conze told reporters on a results call.

“We are happy to have Mediaset as an investor and supporter of our strategy,” he added in response to a question, declining to give more information on next steps.

Mediaset has accumulated a 9.6% stake in ProSieben and plans to create a Dutch holding company that could serve as a platform for developing pan-European alliances to stave off the challenge from U.S. streaming rivals led by Netflix. (Reporting by Douglas Busvine, editing by Riham Alkousaa)

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