financetom
Business
financetom
/
Business
/
MFE lines up $3.6 bln loan for any ProSieben move, source says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
MFE lines up $3.6 bln loan for any ProSieben move, source says
Dec 4, 2024 1:18 AM

MILAN, Dec 4 (Reuters) - MFE-MediaForEurope, the TV

group controlled by Italy's Berlusconi family, has asked a group

of banks for a 3.4 billion euro ($3.6 billion) loan to cover any

financing it may need related to Germany's ProSiebensat.1, a

source told Reuters.

MFE, which own TV operations in Italy and Spain,

has built a stake in ProSieben as part of its plans

to create a pan-European TV champion and better withstand

competition from U.S. streaming giants such as Netflix ( NFLX ).

The source, who has direct knowledge of the matter but spoke

on condition of anonymity as talks are private, confirmed a

report in Italian newspaper Il Messaggero that MFE has asked for

a commitment for a five-year loan by as early as Dec. 5.

MFE, which is ProSieben's single-largest investor behind

Czech investment firm PPF, wants to have the financing ready to

support any potential needs linked to ProSieben in 2025, which

includes a possible buyout offer, the source said.

The source said that while MFE wanted to be ready to move,

any decision was not imminent. MFE declined to comment.

Reuters reported in April that MFE had held talks with

various banks ready to fund a potential bid for ProSieben worth

up to around 4 billion euros.

Il Messaggero said UniCredit had a lead role in the loan,

but the source said the banks are all equally involved.

The lenders working on the loan are Banco BPM, BNP Paribas,

BPER Banca, Deutsche Bank, Intesa Sanpaolo, Mediobanca and

UniCredit, the person said.

It was not immediately possible to reach the banks for

comment.

($1 = 0.9508 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved