The shares of Mediaset España went up on Friday after Italian media outlet Il Sole 24 Ore assured that Italian group Mediaset plans to make a public acquisition offer to buy out the remaining shares of its Spanish subsidiary.
According to a report by eToro Bewertung, Mediaset owns all but 48.4% of the Mediaset España, a percentage currently in the hands of private investors and hedge funds.
The Italian newspaper also announced that the potential acquisition by Mediaset—led by Silvio Berlusconi—would be the group’s first step towards a Pan-European conglomerate, with Germany’s ProSiebenSat.1 and France’s TF1 as its next targets.
After these rumors surfaced, the shares of Mediaset España went up 3%, its highest rise since November 6, despite the recent negative prospects by Morgan Stanley.
According to the American firm, the competition of new on-demand content platforms will have a great impact on the operations and the advertisement income of major European networks.