PPF Group has raised its stake of shares and instruments in Germany’s ProSiebenSat.1 Media SE (ProSieben) to 10.1% in aggregate.
According to the group, it has also started liaising with ProSieben on shareholder representation in the company’s supervisory board. PPF adds that it believes that ProSieben should ensure fair representation of its major shareholders on the supervisory board.
As previously reported by Broadband TV News, last month the Czech PPF Group acquired a 9.10% stake in ProSiebenSat.1. making it the second largest shareholder in the company after Silvio Berlusconi’s MFE-MediaForEurope.
The move marked PPF Group’s first investment in Western Europe’s media market.
Its interests in Central and Eastern Europe include the broadcaster CME.
