On June 7th Mediaset Italy, the television group largely owned by the Berlusconi family, announced a merger with its Spanish subsidiary to create a holding company in Amsterdam MFE-MediaForEurope.
In a statement, the managing director of Mediaset Pier Silvio Berlusconi said that “MFE-MediaForEurope will be listed on the Italian and Spanish stock exchanges with our headquarters in the Netherlands. It will control 100% of Mediaset Spa and 100% of Mediaset España, also holding the 9.6% of ProSiebenSat.1 acquired recently .”
For the son of the former Italian prime minister the choice of the Netherlands is purely technical: it ensures that no offshoring will take place, and that all activities will continue in Italy and Spain.
According to the managing director, the creation of MFE-MediaForEurope will represent annual savings of €107 million by 2023 — with the goal of becoming the “new home of a major European broadcaster”.
There will be an Extraordinary General Meeting on September 4th at which shareholders are invited to approve the merger, which should be completed by the end of the year.
Sources: https://www.primaonline.it, https://www.lastampa.ithttps://www.cbnews.fr
