Spain's CNMV authorizes MFE bid for rest of Mediaset Espana

·1 min read
A sign can be seen at the entrance of the Mediaset Espana headquarters outside Madrid, Spain

MADRID (Reuters) - Spain's stock market regulator CNMV has authorized a bid launched by Italy's MediaForEurope (MFE) to acquire the remaining 44.31% of Mediaset Espana

it does not already own, the regulator said in a statement on Thursday.

The public offer was admitted on April 29 after Italy's MediaForEurope, controlled by the family of former Italian Prime Minister Silvio Berlusconi, previously announced the intention to buy out minority holdings in its Spanish subsidiary.

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

MFE, previously known as Mediaset, said it would offer 4.5 of its ordinary A shares and 1.860 euros in cash for each Mediaset Espana share.

(Reporting by Christina Thykjaer; editing by Richard Pullin)

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