FRANKFURT (Reuters) - German broadcaster ProSiebenSat.1 (PSMGn.DE) said on Wednesday it welcomed Mediaset (MS.MI) 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