Controlled by the family of former Italian Prime Minister Silvio Berlusconi and formerly known as Mediaset, Italian broadcaster MFE sees expansion in Europe as the answer to stiff competition in the industry from online streaming giants.

MFE said it has secured an additional stake of up to 4% in Prosiebensat's capital through financial instruments, which would raise the MFE voting stake in the German TV group up to 29.9%.

(Reporting by Elvira Pollina; Editing by Chris Reese)