The Berlusconi family's MediaForEurope (MFE) group said Monday that it was upping its cash-and-share bid to buy Germany's ProSiebenSat.1 network.
    MFE said it was now offering 1.3 of its shares for each ProSieben share, while leaving the cash component of the offer at 4.48 euros, as it seeks to buy the 70% of German group that it doesn't already own The offer is valid until August 13.
    "We have decided to raise our offer for ProSiebenSat.1 not because the initial proposal was inadequate, but because we believe in the industrial project that we have been supporting for years as the top shareholders,' said MFE CEO Pier Silvio Berlusconi, stressing that it was "urgent to put in place a new strategy".

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