(Reuters) -Czech investment company PPF said on Monday it had secured 18.4% of shares in ProSiebenSat.1 through its tender offer, posing a challenge for rival bidder MediaForEurope (MFE), who earlier
PPF Acquires 18.4% Stake in ProSieben, Challenging MFE's Bid
PPF's Strategic Acquisition of ProSieben
(Reuters) -Czech investment company PPF said on Monday it had secured 18.4% of shares in ProSiebenSat.1 through its tender offer, posing a challenge for rival bidder MediaForEurope (MFE), who earlier secured a 43.6% stake in the German media group.
Overview of the Bidding Process
MFE, owned by the family of late Italian Prime Minister Silvio Berlusconi, had made a bid for all remaining shares in ProSieben, while PPF had targeted a doubling of its stake in the German group to 29.99%.
Impact on MediaForEurope's Bid
(Reporting by Ludwig Burger, Editing by Rachel More)
