MediaForEurope (MFE – the renamed Mediaset) has upped by 16 per cent the cash part for its bid for its own Spanish-listed subsidiary Mediaset Espana.

MFE said that the share consideration was unchanged and claimed that Mediaset Espana was now recommending MFE‘s improved offer.

MFE said it would offer 4.5 of its ordinary A shares and €2.16 cash, up from previously €1.86 cash for each Mediaset Espana share.

Controlled by Silvio Berlusconi and family, MFE announced a cash and share offer for the 44 per cent stake in Mediaset Espana it does not already own. MFE will file for authorisation of the bid change with the Spanish regulator no later than today (June 7th).

MFE has also bought a stake of more than 25 per cent in German media group ProSiebenSat.1 as part of its European expansion strategy.

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Categories: Articles, Business, M&A

Tags: Berlusconi, MediaforEurope, mediaset, MFE