MFE-Mediaforeurope N.V. intents to acquire the remaining 71.13% stake in ProSiebenSat.1 Media SE (XTRA : PSM) on December 13, 2023. MFE-Mediaforeurope N.V. filed its formal notification at Austria?s Federal Competition Authority, of its intention to take ?de facto sole control? of the German group.

MFE-Mediaforeurope N.V. already held stake of 28.87% of the share capital through a) 26.58% direct ownership and b) 2.29% secured by financial instruments. On February 8, 2024, Austria?s Federal Competition Authority approved a deal. The transaction was cleared after MFE made commitments to safeguard media diversity at ProSieben's Austrian business.

MFE ensured independence of the management and editorial team of P7S1 Austria Group. The Dutch broadcaster also committed that the Austrian business will be focused on local content and will maintain relevant share of news. The transaction was cleared by the European Commission already in September 2023.

ProSiebenSat.1: stake of 28.87% of the share capital through a) 26.58% direct ownership and b) 2.29% secured by financial instruments. As of March 27, 2024, the Executive Board and Supervisory Board of ProSiebenSat.1 Media SE reject the proposals of MFE-MEDIAFOREUROPE N.V. for the Annual General Meeting on April 30, 2024. The motions submitted by MFE, include proposals for a split-up of the company, the composition of the Supervisory Board and the restriction of the authorized capital.

The Executive Board and Supervisory Board of ProSiebenSat.1 Media SE are of the opinion that the aforementioned proposals do not contribute to increasing the value of the company, but ? on the contrary ? entail the risk of a reduction in value for the company and its shareholders.