PPF acquires 9.1% stake in German broadcaster ProSiebensat.1

Written by Miroslav Marinov

Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.

, | Updated: October 30, 2024

Privately-owned investment group PPF said this week it had acquired a 9.1% stake in ProSiebensat.1, thus, becoming the second-largest investor in the German broadcaster after MFE-MediaforEurope.

“PPF believes the digital transformation of ProSieben will create value for all shareholders,” the Czech investment group said in a statement.

“PPF is looking forward to liaising with the management and supervisory board of ProSieben in this digitalization process.”

The company has investments across 25 countries in banking, telecoms, manufacturing, real estate, biotech among other industries.

The group is now controlled by Petr Kellner’s widow, Renata Kellnerova.

“We are pleased that Ms Kellnerova sees ProSiebenSat.1 as an attractive investment and has placed her trust in our company,” a spokesperson for ProSieben was quoted as saying by Reuters.

As of 9:17 GMT on Wednesday the shares of Prosiebensat 1 Media AG (PSMGn) were edging up 0.41% (EUR 0.0390) to trade at EUR 9.5950 in Frankfurt.

The German broadcaster’s total market cap now stands at EUR 2.184 billion.

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