Published by Global Banking & Finance Review®
Posted on June 18, 2025
2 min readLast updated: January 23, 2026
Add as preferred source on GoogleProSiebenSat.1 welcomes PPF's bid to increase its stake but finds the offer financially inadequate, citing its long-term value. The acceptance period ends August 13.
(Reuters) -The boards of ProSiebenSat.1 have welcomed a bid from Czech investment firm PPF to lift its stake in the company, but described the offered price as "inadequate from a financial point of view", the German broadcaster said on Wednesday.
In May, PPF launched a bid to lift its stake in ProSieben to just under 30%, countering plans by top shareholder MFE-MediaForEurope to tighten its grip on the company.
The supervisory and executive board welcome PPF's commitment and support, ProSieben said in a statement.
However, both boards concluded that "the offer price does not adequately reflect the earnings potential and long-term value of ProSiebenSat.1," it said.
The boards have therefore decided not to make a recommendation regarding the acceptance of the bid to its shareholders, ProSieben said.
PPF offered 7 euros ($8.06) per ProSieben share, which represented a premium of 17.4% compared to the last closing price prior to the day of the offer, and is close to where the shares are trading now.
In March, the Berlusconi family-owned broadcaster MFE offered 4.48 euros in cash and 0.4 MFE A shares per ProSieben share, which ProSieben had advised against.
The acceptance period for both offers ends on August 13.
($1 = 0.8690 euros)
(Reporting by Isabel Demetz; editing by Matthias Williams and Tomasz Janowski)
ProSiebenSat.1's boards welcomed the PPF bid but deemed the offered price as financially inadequate, stating it does not reflect the company's earnings potential.
PPF offered 7 euros ($8.06) per ProSieben share, which was a 17.4% premium compared to the last closing price before the offer.
MFE-MediaForEurope had previously offered 4.48 euros in cash and 0.4 MFE A shares per ProSieben share, which ProSieben advised against.
The acceptance period for both the PPF and MFE offers ends on August 13.
The boards concluded that the offer price did not adequately reflect the long-term value of ProSiebenSat.1, leading them not to recommend acceptance to shareholders.
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