The Italian television group MFE-Mediaforeurope says it has secured loans of EUR 3.4 billion for its international expansion plans.

"We want to be ready to decide what would be the right course of action in Germany, but also for other opportunities," said MFE CEO Pier Silvio Berlusconi on Wednesday evening at a press conference at the company's headquarters near Milan. With a 29.99 percent stake in ProSiebenSat.1, the Group is close to the threshold that would entail a mandatory bid for the remaining shares in the Bavarian television company. Berlusconi envisions a pan-European media group that can stand up to streaming providers such as Netflix.

According to an insider, MFE is also looking at takeover targets in the Netherlands, Poland and Portugal, but ProSiebenSat.1 remains the main focus. The Italians would prefer a voluntary cash offer in order to have more legroom. However, nothing is likely to happen before the federal elections in February, said another insider. "We are monitoring the situation in Germany, which is very complex - given the weak economy and the political crisis," said Berlusconi, the son of former Italian Prime Minister Silvio Berlusconi. "Let's hope that 2025 will be the year in which our international strategy shifts up a gear." MFE is currently active in Italy and Spain.

According to earlier information from insiders, the billion-euro loan for MFE was arranged by the major Italian bank UniCredit, but Deutsche Bank is also involved.

(Report by Elvira Pollina,; written by Alexander Hübner,; edited by Philipp Krach; If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)