“PPF hasn’t been able to attract enough shareholders to support its objectives. With already more than 43 per cent of ProSiebenSat.1 voting rights, MFE’s shareholding is very likely sufficient to secure a simple majority at every ProSiebenSat.1 shareholder meeting. At the same time, PPF’s limited acceptance makes it impossible for PPF to continue its original role as a strategic investor, engaging with MFE on equal terms and contributing its expertise in building digital broadcasting media platforms,” said PPF in a press statement.
“Nevertheless, it should be noted that PPF has acted as a catalyst for a meaningful improvement in MFE’s offer terms, which significantly raised ProSiebenSat.1’s valuation and created value for all shareholders, the Czech company added. “Despite PPF’s withdrawal from ProSiebenSat.1, the German market remains a crucial one for the company. This is reflected in PPF’s ownership of Vitronic, a leading machine vision technology company, and Škoda Transportation, a major supplier of trams and light rail vehicles to cities across the country. PPF believes in the strong economic opportunity that Germany offers and will continue its commitment to deliver value for stakeholders there and assess any future investment opportunity accordingly.”