PPF Group increases stake in ProSiebenSat.1

PPF Group has revealed that it has increased its holding of shares and instruments in ProSiebenSat.1 Media SE (ProSiebenSat.1) to a stake of 15.04% in aggregate.

PPF’s holding represents 11.6% of voting rights on the outstanding share capital of ProSiebenSat.1. MediaForEurope (MFE) also recently further upped its stake in the German broadcaster to round up its stake of combined held and secured shares to 28.87% of the share capital or 29.7% of current voting rights, excluding treasury shares.

MFE now holds 26.58% of the share capital of the broadcaster, or 27.34% of the current voting rights, through direct ownership, with a further 2.29%, or 2.35% of current voting rights, secured through financial instruments.

Renáta Kellnerová, the widow of deceased Czech billionaire Petr Kellner and the richest woman in that country, became ProSiebenSat.1’s second largest shareholder after acquiring a 9.1% stake, with the option to acquire a further 0.9%.

Kellnerová’s PPF Group, founded by Kellner, owns CEE broadcaster CME and a number of other media assets. Kellnerová’s acquisition of a stake follows a progressive sell-down by another Czech investor, Daniel Kretinsky, whose Czech Media Invest acquired a 12% stake in 2020.

Kellnerová’s acquisition of a stake follows a progressive sell-down by another Czech investor, Daniel Kretinsky, whose Czech Media Invest acquired a 12% stake in 2020. Kretinsky, who was seen as an ally of the Berlusconi family’s MediaForEurope, which has called for Europe-wide media consolidation, is in a relationship with Kellnerová’s daughter, Anna Kellnerová, and Kellner was previously Kretinsky’s business partner in energy holding company EPH.

Speaking on the transaction, Didier Stoessel, PPF chief investment officer, said: “Our growing shareholding in ProSiebenSat.1 demonstrates that PPF is a long-term and supportive investor with ample television broadcasting experience that can add value to Germany’s leading media company,”