ProSiebenSat Minorities win

It’s back to square one for ProSiebenSat.1 Media, Germany’s largest commercial broadcaster. Publisher Axel Springer has abandoned its planned takeover after its bid ran into regulatory difficulties. The German cartel office ruled that Springer would have had to sell one of the group’s prime channels to win an approval. This would have destroyed synergies worth about 20% of the group’s value, according to UBS. But the collapse of the deal will be welcome news to ProSieben’s minority preference s...