(Alliance News) - MFE-Mediaset is raising funds for a strategic move in Germany, where it holds 29.9 percent of shares and 30.8 percent of voting rights in ProsiebenSat1, Il Messaggero reported Wednesday.

The deal could open a new front between Italy and Germany.

As the newspaper continues, MFE has instructed UniCredit to arrange a EUR3.4 billion loan, with the involvement of leading Italian and international banks, such as Intesa Sanpaolo and Deutsche Bank.

The loan will have a term of five years and a fee of about 1.10 percent.

The loan is expected to be drawn down in 2025, with a guarantee provided.

Despite rumors of a possible takeover bid for Pro7, the current values do not seem to be worth it, due to too high a premium, the Messenger further reports.

Meanwhile, MFE is considering the sale of non-core assets, such as Verivox, Flaconi GmbH and Parship Meet.

Although Pro7 CEO Bert Habets is reluctant, the Bavarian group's financial results have disappointed, causing it to reexamine its strategic options. The funding request suggests that a decision is imminent.

A takeover bid could lead to the delisting of Pro7 and would require a debt refinancing of about EUR1.2 billion, with EUR1.4 billion available for other investments and refinancing.

By Claudia Cavaliere, Alliance News reporter

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