The move is listed in the antitrust authority’s list of pending cases. Mediaset currently holds a 20% stake in ProSiebenSat.1.
With the approval by the Federal Cartel Office, Mediaset could increase its shareholding to up 25% and enable the company to vote at a ProSiebenSat.1 shareholder meeting scheduled in June 2020.
“We are acting in line with German rules and we are informing all the involved authorities,” a spokesman for the Italian broadcaster told Reuters. ProSiebenSat.1 declined to comment.
Following the departure of several senior executives and a sharp drop of its stock market value, ProSiebenSat.1’s supervisory board recently decided to part with CEO Max Conze, clearing the way for a change of strategy.