Italy's MediaForEurope (MFE) announced Thursday it had taken control of one of Germany's biggest private broadcasting groups, as it seeks to build a pan-European group able to compete with streaming giants.

MFE, the biggest commercial television network in Italy which is majority-owned by the Berlusconi family, secured more than 75 percent of shares in the German company through a takeover offer.

ProSieben, which has 15 television channels, had recommended its shareholders accept MFE's offer, which values the company at nearly 1.9 billion euros ($2.2 billion).

And on Thursday, group chief executive Bert Habets said MFE's announcement marked an "important milestone".

"Together, we cover five core European markets, with ProSiebenSat.1 being a leader in Germany, Austria and Switzerland, a

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