May 13, 2020 / 8:21 AM / 3 months ago

Mediaset happy with current ProsiebenSat.1 stake - CFO

MILAN, May 13 (Reuters) - Italy’s biggest private broadcaster Mediaset is happy with its 24.2% stake in German rival ProSiebenSat.1 Media and the financial structure implemented up to now, Chief Financial Officer Marco Giordani said on Wednesday.

Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Mediaset is pursuing a European growth strategy to resist the advance of U.S. streaming platforms.

It wants to merge its Italian and Spanish businesses into a Dutch entity, dubbed MediaforEurope (MFE), but opposition from its second largest shareholder Vivendi has delayed the process.

Asked on a post-results analyst call whether Mediaset was considering a merger with ProSiebenSat.1 before creating a pan-European TV champion, Giordani said the company was not changing its timetable. (Reporting by Elvira Pollina, writing by Agnieszka Flak; editing by Valentina Za)

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