In this sense, the Italian newspaper Il Sole 24 Ore highlights that the news of Silvio Berlusconi’s death has prompted the purchase of shares of listed companies linked to Fininvest under the hypothesis that the disappearance of the founder may lead to a reorganization of the control structure of the corporate conglomerate.
While the Mondadori publishing group earned more than 2% and the German television channel ProsiebenSat, 5% did the same. Finally, they closed the day with advances of 5.86% for class A titles and 2.32% for MFE class B titles, 1.54% for Mondadori and 5.38% for ProsiebenSat.
The succession, the key to what will happen with the actions
“It is likely that the volatility will continue until the details of the succession are known and which of the sons will control the company. In the short term, the class B share has a resistance zone of great relevance at 0.80 cents per share, which if exceeded could raise its potential to one euro per share”, said Joaquín Robles, sales & PR manager of XTB
In this sense, it is worth remembering that a little over a year ago, MFE carried out the purchase of Mediaset España with the aim of achieving greater media consolidation in order to deal with the growing popularity of streaming platforms.
At the last General Shareholders’ Meeting, the company approved the payment of a gross dividend of 0.05 euros for each ordinary title A and B charged to the year 2022, which will be paid on July 26, 2023.
Likewise, it was agreed to carry out a reverse split of 5 old shares for 1 new one that will be carried out at the end of the year. “This operation will allow it to boost the price of its shares by reducing the number of shares after the sharp falls of recent years,” adds Robles.
“MFE shares have suffered a sharp slump in recent months. From the highs reached in mid-2021 to the lows at the end of last year, the drop has exceeded 75%. This year it accumulates a revaluation of more than 25% driven by the good results of last year”indicate from XTB.
Berlusconi, who held the head of the Italian Government up to three times, died at the age of 86 at the San Raffaele hospital in Milan, his hometown, as a result of the leukemia he suffered from.
Source: Ambito
