By Elvira Pollina
MILAN (Reuters) -The Berlusconi family has never discussed selling out of MFE-MediaForEurope and the company remains committed to expanding its European television business, MFE Chief Executive Pier Silvio Berlusconi told reporters.
The CEO was addressing merger and acquisition speculation that boosted shares in MFE following the death of his father, company founder Silvio Berlusconi, last month.
The Berlusconi family's Fininvest company holds 48.5% of the share capital of MFE, the company formerly known as Mediaset.
"The answer to the question of whether as a family we ever discussed selling Mediaset is 'no'," Berlusconi told reporters at an event on Tuesday night.
Silvio Berlusconi's will is expected to be unsealed on Wednesday and details made public on Thursday, giving further pointers to the future of his business empire, sources with knowledge of the matter said. Fininvest declined to comment.
MFE has pursued a strategy of European expansion to help head off competition from U.S. streaming giants. It has incorporated its Spanish business and owns a stake of almost 30% in Germany's ProSiebenSat.1.
"Regarding our presence in Germany, we see ourselves as long-term shareholders," Berlusconi said in remarks embargoed until Wednesday.
"What interests us is pressing ahead with a European industrial project which we believe in, namely a combination of European broadcasters," he added.
"National television still has a big role to play but to keep pace with the web giants, you have to grow at the international level," added Berlusconi, speaking at a presentation of the group's autumn programme schedule.
NO POLITICS FOR PIER SILVIO
French media group Vivendi (EPA:VIV) is the second largest shareholder in MFE, but relations with Fininvest have been strained since 2016, when a planned pay TV partnership turned sour.
Berlusconi played down any suggestion a closer media partnership with Vivendi may be revived, saying only that MFE had "totally normal relations with a silent financial investor."
Berlusconi is the eldest son of the former prime minister and one of his five children from two marriages. The MFE CEO said the family was united in its business plans.
Under Italian law, the children have a right to inherit two-thirds of his wealth in equal parts, while the deceased is free to dispose of the remaining one-third how they see fit.
Silvio Berlusconi moved from business to politics in the 1990s and his Forza Italia party is in Prime Minister Giorgia Meloni's coalition government.
Pier Silvio Berlusconi said he had no plans to follow the same path. "Absolutely not, I'm not going into politics," he said.