Czech PPF Group, parent company of Central European Media Enterprises (CME), has acquired a 9.10% stake in German media company ProSiebenSat.1.
The transaction turns PPF Group into ProSiebenSat.1’s second-largest shareholder after Berlusconi’s MFE-MediaForEurope which built up a 29.9% stake in the past months.
PPF believes the digital transformation of ProSiebenSat.1 will create value for all shareholders, according to a statement, adding that the company is looking forward to liaising with the management and supervisory board of ProSiebenSat.1 in the digitisation process.
PPF is an active investor in the telecommunications, media, and technology (TMT) sectors. The company’s subsidiary CME operates several TV and online media companies in Central and South-Eastern Europe.
Founded by the now deceased Petr Kellner, PPF has investments across 25 countries. The company is now controlled by Kellner’s widow, Czech billionaire Renáta Kellnerová.
“We are pleased that Ms Kellnerová sees ProSiebenSat.1 as an attractive investment and has placed her trust in our company,” a ProSiebenSat.1 spokeswoman told German news agency dpa.
