Czech investment firm PPF makes bid for close to 30% stake in ProSiebenSat.1
Czech investment firm PPF has offered to increase its stake in ProSiebenSat.1 – from 15% up to 29.99% – following Italian media group MediaForEurope (MFE)’s low-ball takeover bid for the German media giant last week.

Bert Habets
ProSiebenSat.1/Amelie Niederbuchner
The executive board of ProSiebenSat.1 said this morning it welcomed PPF’s offer, which comes after MFE submitted a bid towards the end of last week as part of its ambition to create a pan-European media giant.
However, MFE, which is the biggest shareholder in ProSiebenSat.1 with a 30.14% stake, subsequently said it did not expect its bid to lead to a majority stake in ProSiebenSat.1 but instead hoped it would lead to more collaboration.
PPF has now submitted an all-cash offer of €7 (US$7.80) a share, which the executive board of ProSiebenSat.1 said: “will provide shareholders, who prefer to monetise their investment short-term, with a better all-cash alternative to the public takeover offer published by MFE.”
The amount of shares PPF is bidding for is as-yet-undermined, but its offer represents a 17% premium on the share price and is “21% better value” than the offer from MFE, the acceptance period on which opened May 9.
The executive board of ProSiebenSat.1 added it “appreciates the elevated commitment of PPF to ProSiebenSat.1 as long-term oriented major shareholder, demonstrated by PPF’s intention to increase its stake at a premium, as well as its continued support for the executive board and the execution of its strategy.”
“ProSiebenSat.1 notes that the offer is not intended to acquire a controlling interest in the company and, accordingly, will not extend to the acquisition of all outstanding shares.
Following publication of PPF’s offer document, the executive board and supervisory board of ProSiebenSat.1 will issue their respective legally required reasoned statements on the offer.
Bert Habets, whose contract as group CEO of ProSiebenSat.1 Media was recently extended, said: “PPF has been a long-standing investor in ProSiebenSat.1 having a deep understanding of our business. The executive board is supportive of PPF’s increased commitment to ProSiebenSat.1, as evidenced by the terms of its offer, and appreciates its support for our digital transformation strategy.”
It comes after ProSiebenSat.1 has endured a turbulent relationship with both PPF and MFE, which in the past have pressured management to divest itself of non-core assets and focus on entertainment.
C21 reported last week that ProSiebenSat.1 is cutting 430 full-time jobs as part of the company’s strategy to focus on its core entertainment business.
MFE is controlled by the family of Silvio Berlusconi, the late prime minister of Italy, while PPF is backed by Amalar Holding, established in 2023 to consolidate the assets of the late Czech billionaire entrepreneur Petr Kellner, who died in 2021.