June 26, 2020 / 10:18 AM / 11 days ago

Mediaset received interest from potential investors, partners in pan-European plan

MILAN, June 26 (Reuters) - Italian broadcaster Mediaset has received a lot of interest from potential financial investors and industrial partners in recent weeks for its pan-European TV project, Chairman Fedele Confalonieri said on Friday.

Mediaset, controlled by the family of former Italian prime minister Silvio Berlusconi, last year approved a merger of its Italian and Spanish units under a Dutch entity, dubbed MediaforEurope (MFE), planning to use it to pursue tie-ups in Europe to take on competition from the likes of Netflix and Google.

Confalonieri said at the start of the broadcaster’s annual shareholder meeting that a year after MFE was approved the company was more convinced than ever “of the need and the rightness of this project”, according to a copy of his speech.

“It’s not just a question of savings or efficiency, it’s actually about new possibilities and opportunities for growth, which today cannot be realised by remaining local,” Confalonieri said, adding this reflected the view of other TV companies in Europe.

“This is why, in recent weeks - even during the health emergency - we have received a lot of interest from both financial investors and industrial partners, about the prospects that lie ahead.” (Reporting by Agnieszka Flak, editing by Francesca Piscioneri)

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