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Pool of banks grant 3.4 bln euro loan

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MFE holds 30% in ProSieben, could make a bid

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Monitoring TV asset sales in Portugal, Netherlands, Poland

(Updates with comments from sources in paragraphs 7, 11, 14)

By Elvira Pollina

MILAN, Dec 12 (Reuters) - MFE-MediaforEurope,

the TV group controlled by Italy's Berlusconi family, has

secured the support of banks for a 3.4 billion euro ($3.6

billion) loan to be ready to advance its cross-border expansion

plans, its chief executive said.

MFE, which owns commercial TV operations in Italy and Spain,

has built a near 30% stake in German peer ProSiebenSat.1

as part of plans to create a pan-European

advertising-funded broadcaster.

It sees that strategy as the response to the increasing

dominance of U.S. streaming giants such as Netflix ( NFLX ), and

the flight of advertising budgets to the likes of Facebook

and Google.

Holding a press briefing at the company's headquarters near

Milan late on Wednesday, CEO Pier Silvio Berlusconi said MFE

wanted to be ready for opportunities.

"We want to be ready to assess what, if anything, could be

the right thing to do in Germany, but also for any other

opportunities," he said, without elaborating.

MFE is monitoring TV assets sales in the Netherlands, Poland

and Portugal, though ProSieben remains its main focus, a source

with knowledge of the matter told Reuters. MFE declined to

comment.

PROSIEBEN MOVE

"We are following the situation in Germany, which is very

complex, given the weakness of the economy and the political

crisis," Berlusconi said.

MFE's holding in ProSieben is just below the threshold that

triggers a mandatory takeover under German laws.

Under a takeover scenario, MFE would likely opt for a

voluntary cash offer, the source said.

While a mandatory bid cannot be pulled and must take place

at a pre-determined price, a voluntary offer can be subjected to

'adverse market condition' clauses allowing a bidder to modify

its terms or withdraw it.

Germany is holding early elections in February, and MFE is

unlikely to make any moves before that, according to a second

person with knowledge of the matter.

"Let's hope 2025 is the year in which our international

strategy can shift up a gear," Berlusconi added.

Since MFE first invested in ProSieben in 2019, the

Bavaria-based group has resisted MFE's calls to join its

pan-European project, striving to remain independent.

Berlusconi played down the risk of political resistance in

Germany, which Italian lender UniCredit is facing in

its approach to Commerzbank, saying MFE had been

constantly in touch with local authorities over ProSieben.

($1 = 0.9527 euros)