Latest news with #SilvioBerlusconi
Reuters
2 days ago
- Business
- Reuters
Breakingviews - Berlusconis test investor faith in pan-European TV
LONDON, July 28 (Reuters Breakingviews) - The fight for control over 1.8-billion-euro German broadcaster ProSiebenSat 1 Media ( opens new tab is starting to look like a tug of war. With its newest offer, opens new tab on Monday, Italy's MFE-MediaForEurope (MFE) ( opens new tab looks to have gained the upper hand. The question now is whether the target's shareholders buy into the pan-European vision of the bidder's controlling Berlusconi clan, which means believing some chunky estimated cost cuts and revenue boosters. MFE, the 1.8-billion-euro TV group controlled by the family of former Italian Prime Minister Silvio Berlusconi, back in March made an initial lowball bid for the roughly 70% of ProSieben that it doesn't already own. The cash-and-shares offer was worth about 5.7 euros. Czech media investor PPF, which has a 15% stake in the German target, subsequently launched an all-cash counterbid of 7 euros per share, partly to resist the Berlusconis. The Italians' counter came on Monday, with an increase to the stock-based component of the offer. After accounting for a 6% selloff in the bidder's relevant share class, the new price is 7.93 euros per ProSieben share, with almost three-fifths in the form of cash and just over two-fifths equity, based on Breakingviews calculations. The German group's shares shot up to within a whisker of the offer. The bidder's chief executive, Pier Silvio Berlusconi, maintains that he's not seeking total control of ProSieben. Rather, he's seeking 'the flexibility to provide clear direction based on a shared vision'. That hasn't stopped MFE from modelling the savings on offer from a full combination, which it pegs at 419 million euros of additional operating profit by 2029. Just under half of this would come from revenue initiatives, such as positioning the enlarged group as a partner for big cross-border advertisers. The rest comes from slashing up to 3% of combined costs, for example by unifying advertising sales and technology operations. The returns could be nice, if that vision plays out. Add MFE's 419-million-euro estimate of the benefits to ProSieben's forecast 331 million euros of operating profit by 2029, using analyst forecasts gathered by Visible Alpha. After deducting tax at 30%, the total bottom-line boost to the bidder would be 525 million euros, or 16% of the purchase price after factoring in the target's net debt – a nice return by any standard. If investors believed those numbers, however, MFE's shares would be up rather than down. The consensus among bankers, analysts and investors has traditionally been that cross-border benefits are hard to come by in European television. Whether Spanish audiences will take a sudden interest in, say, German reality-TV programmes seems doubtful. With its beefed-up partly share-based bid, MFE is essentially putting that proposition before ProSieben shareholders. It's a bold bet on a potentially sketchy idea. Follow Jennifer Johnson on Bluesky, opens new tab and LinkedIn, opens new tab.
Free Malaysia Today
10-07-2025
- Politics
- Free Malaysia Today
Huawei probe blunder sparks EU parliament rules change
EU parliament president Roberta Metsola named Giusi Princi among the lawmakers targeted by authorities. (EPA Images pic) STRASBOURG : When European lawmaker Giusi Princi learnt she was sought by Belgian authorities over a graft investigation linked to Chinese tech giant Huawei in May, she was 'dumbfounded'. It soon turned out she had nothing to do with it – in a mix-up that has undermined confidence in the probe and pushed the European parliament to review its rules to better shield lawmakers from unfounded accusations. 'To this day, I cannot understand how they could have made such a blatant mistake,' Princi told AFP of Belgian prosecutors. The Brussels prosecutor office did not reply to a request for comment. Princi, 52, a member of late Italian prime minister Silvio Berlusconi's Forza Italia party, was targeted by a request to lift her parliamentary immunity in mid-May, along with four other lawmakers. Prosecutors alleged she attended a Brussels dinner with Huawei representatives seeking to curry favour among parliamentarians in June last year. However, on the day in question the Italian politician was yet to be formally appointed to the 27-nation bloc's assembly following European elections that month. She secured a seat only after another lawmaker renounced his. Also, she was not in Belgium but in her native southern Calabria region, attending her daughter's Alice-in-Wonderland-themed end-of-year school play. No more 'tarnishing' Describing herself as 'stubborn and pig-headed', Princi lawyered up, compiled an 'almost 100-page long' dossier including geo-tagged photos of her daughter in a princess dress, and sent it to prosecutors. Yet, her bid to get exonerated before things became public failed. On May 21 EU parliament president Roberta Metsola named Princi among lawmakers targeted by authorities before a plenary sitting. That was a step required by parliamentary procedure before the case could be passed to the committee on legal affairs, which is tasked to assess immunity waivers. However, the rules have since been revised, for, in an embarrassing about-face, prosecutors withdrew the request targeting Princi a day after she was publicly named. 'I will not accept the targeting and tarnishing of MEPs without a solid basis,' Metsola told a press conference in late June, announcing the changes. Her office said that going forward parliament will require requests to lift a lawmaker's immunity to include 'essential elements' such as a clear description of the facts and the crime the accused is alleged to have committed. 'If the requests do not meet the minimum elements, the requesting authority will be asked to complement it' before any announcement is made,' Metsola's office said. Although brief, Princi said her involvement in the affair caused her a fair amount of stress during a few 'days of hell' – and dirty looks from colleagues. 'Question marks' The fiasco has fuelled a debate on whether Belgian authorities are best placed to investigate EU corruption. Daniel Freund, a transparency campaigner turned lawmaker for Europe's Greens, is among those who would like the European Public Prosecutor's Office, which already probes the misuse of EU funds, to be tasked with such cases. 'I guess the Belgian taxpayer doesn't have a particular interest to dedicate a lot of resources to making sure that EU institutions are clean. 'But since EU institutions are located in Belgium, it somehow falls into their remit,' he told AFP. An earlier scandal over alleged bribery involving Qatar and Morocco, which erupted in 2022 when police raids in Brussels uncovered 1.5 million euros in cash at the homes of several lawmakers, is still weighed down in legal challenges with no trial in sight. Were that to collapse, it 'would seriously put into question the role of the Belgian judiciary,' Freund said, adding 'some question marks' also hung over the Huawei probe. The Huawei scandal burst into the public in March when police staged raids in Belgium and Portugal. Investigators suspect Huawei lobbyists of offering gifts, including meals and invitations to football matches to lawmakers who would defend its interests in Brussels. Eight people have been charged on counts including corruption, money laundering and participating in a criminal organisation. The four EU lawmakers named besides Princi have denied any wrongdoing.
Yahoo
10-07-2025
- Politics
- Yahoo
Huawei probe blunder sparks EU parliament rules change
When European lawmaker Giusi Princi learnt she was sought by Belgian authorities over a graft investigation linked to Chinese tech giant Huawei in May, she was "dumbfounded". It soon turned out she had nothing to do with it -- in a mix-up that has undermined confidence in the probe and pushed the European Parliament to review its rules to better shield lawmakers from unfounded accusations. "To this day I cannot understand how they could have made such a blatant mistake," Princi told AFP of Belgian prosecutors. The Brussels prosecutor office did not reply to a request for comment. Princi, 52, a member of late Italian prime minister Silvio Berlusconi's Forza Italia party, was targeted by a request to lift her parliamentary immunity in mid-May, along with four other lawmakers. Prosecutors alleged she attended a Brussels dinner with Huawei representatives seeking to curry favour among parliamentarians in June last year. But on the day in question the Italian politician was yet to be formally appointed to the 27-nation bloc's assembly following European elections that month. She secured a seat only after another lawmaker renounced his. Also, she was not in Belgium but in her native southern Calabria region, attending her daughter's Alice-in-Wonderland-themed end-of-year school play. - No more 'tarnishing' - Describing herself as "stubborn and pig-headed", Princi lawyered up, compiled an "almost 100-page long" dossier including geo-tagged photos of her daughter in a princess dress, and sent it to prosecutors. Yet, her bid to get exonerated before things became public failed. On May 21 EU parliament president Roberta Metsola named Princi among lawmakers targeted by authorities before a plenary sitting. That was a step required by parliamentary procedure before the case could be passed to the committee on legal affairs, which is tasked to assess immunity waivers. But the rules have since been revised, for, in an embarrassing about-face, prosecutors withdrew the request targeting Princi a day after she was publicly named. "I will not accept the targeting and tarnishing of MEPs without a solid basis," Metsola told a press conference in late June, announcing the changes. Her office said that going forward parliament will require requests to lift a lawmaker's immunity to include "essential elements" such as a clear description of the facts and the crime the accused is alleged to have committed. "If the requests do not meet the minimum elements, the requesting authority will be asked to complement it" before any announcement is made, Metsola's office said. Although brief, Princi said her involvement in the affair caused her a fair amount of stress during a few "days of hell" -- and dirty looks from colleagues. - 'Question marks' - The fiasco has fuelled a debate on whether Belgian authorities are best placed to investigate EU corruption. Daniel Freund, a transparency campaigner turned lawmaker for Europe's Greens, is among those who would like the European Public Prosecutor's Office, which already probes the misuse of EU funds, to be tasked with such cases. "I guess the Belgian taxpayer doesn't have a particular interest to dedicate a lot of resources to making sure that EU institutions are clean. But since EU institutions are located in Belgium, it somehow falls into their remit," he told AFP. An earlier scandal over alleged bribery involving Qatar and Morocco, which erupted in 2022 when police raids in Brussels uncovered 1.5 million euros in cash at the homes of several lawmakers, is still weighed down in legal challenges with no trial in sight. Were that to collapse, it "would seriously put into question the role of the Belgian judiciary," Freund said, adding "some question marks" also hung over the Huawei probe. The Huawei scandal burst into the public in March when police staged raids in Belgium and Portugal. Investigators suspect Huawei lobbyists of offering gifts, including meals and invitations to football matches to lawmakers who would defend its interests in Brussels. Eight people have been charged on counts including corruption, money laundering and participating in a criminal organisation. The four EU lawmakers named besides Princi have denied any wrongdoing. ub/del/giv
News.com.au
10-07-2025
- Politics
- News.com.au
Huawei probe blunder sparks EU parliament rules change
When European lawmaker Giusi Princi learnt she was sought by Belgian authorities over a graft investigation linked to Chinese tech giant Huawei in May, she was "dumbfounded". It soon turned out she had nothing to do with it -- in a mix-up that has undermined confidence in the probe and pushed the European Parliament to review its rules to better shield lawmakers from unfounded accusations. "To this day I cannot understand how they could have made such a blatant mistake," Princi told AFP of Belgian prosecutors. The Brussels prosecutor office did not reply to a request for comment. Princi, 52, a member of late Italian prime minister Silvio Berlusconi's Forza Italia party, was targeted by a request to lift her parliamentary immunity in mid-May, along with four other lawmakers. Prosecutors alleged she attended a Brussels dinner with Huawei representatives seeking to curry favour among parliamentarians in June last year. But on the day in question the Italian politician was yet to be formally appointed to the 27-nation bloc's assembly following European elections that month. She secured a seat only after another lawmaker renounced his. Also, she was not in Belgium but in her native southern Calabria region, attending her daughter's Alice-in-Wonderland-themed end-of-year school play. - No more 'tarnishing' - Describing herself as "stubborn and pig-headed", Princi lawyered up, compiled an "almost 100-page long" dossier including geo-tagged photos of her daughter in a princess dress, and sent it to prosecutors. Yet, her bid to get exonerated before things became public failed. On May 21 EU parliament president Roberta Metsola named Princi among lawmakers targeted by authorities before a plenary sitting. That was a step required by parliamentary procedure before the case could be passed to the committee on legal affairs, which is tasked to assess immunity waivers. But the rules have since been revised, for, in an embarrassing about-face, prosecutors withdrew the request targeting Princi a day after she was publicly named. "I will not accept the targeting and tarnishing of MEPs without a solid basis," Metsola told a press conference in late June, announcing the changes. Her office said that going forward parliament will require requests to lift a lawmaker's immunity to include "essential elements" such as a clear description of the facts and the crime the accused is alleged to have committed. "If the requests do not meet the minimum elements, the requesting authority will be asked to complement it" before any announcement is made, Metsola's office said. Although brief, Princi said her involvement in the affair caused her a fair amount of stress during a few "days of hell" -- and dirty looks from colleagues. - 'Question marks' - The fiasco has fuelled a debate on whether Belgian authorities are best placed to investigate EU corruption. Daniel Freund, a transparency campaigner turned lawmaker for Europe's Greens, is among those who would like the European Public Prosecutor's Office, which already probes the misuse of EU funds, to be tasked with such cases. "I guess the Belgian taxpayer doesn't have a particular interest to dedicate a lot of resources to making sure that EU institutions are clean. But since EU institutions are located in Belgium, it somehow falls into their remit," he told AFP. An earlier scandal over alleged bribery involving Qatar and Morocco, which erupted in 2022 when police raids in Brussels uncovered 1.5 million euros in cash at the homes of several lawmakers, is still weighed down in legal challenges with no trial in sight. Were that to collapse, it "would seriously put into question the role of the Belgian judiciary," Freund said, adding "some question marks" also hung over the Huawei probe. The Huawei scandal burst into the public in March when police staged raids in Belgium and Portugal. Investigators suspect Huawei lobbyists of offering gifts, including meals and invitations to football matches to lawmakers who would defend its interests in Brussels. Eight people have been charged on counts including corruption, money laundering and participating in a criminal organisation. The four EU lawmakers named besides Princi have denied any wrongdoing.
Times
04-07-2025
- Entertainment
- Times
I danced for Berlusconi then the devil possessed me for six years
She once leapt out of a birthday cake in a bikini for the Italian prime minister Silvio Berlusconi, was dragged into political scandal over his 'bunga-bunga' parties, and survived alcohol and drug addiction. But that was not the end of Ania Goledzinowska's turbulent story: she was also possessed by the devil, a leading exorcist has said. Goledzinowska built a career as a TV showgirl in Milan and dated Berlusconi's nephew before undergoing exorcism rituals, during which she is said to have insulted priests in a shrill man's voice, spoken in tongues, levitated and shown incredible physical strength. 'Ania was a classic case of demonic possession,' said Father Antonio Mattatelli, a Vatican-appointed exorcist, who said he helped Goledzinowska oust the devil. 'When we prayed she would go into a trance and laugh, mock, insult and try and seduce me before people would have to hold her down to stop her punching and biting me.'
