<p>Private equity firm KKR placed a 4.7% stake in ProSiebenSat.1 Media at 13.50 euros apiece, a bookrunner said, sending shares in the German broadcaster down 4.5% Wednesday.</p>.<p>KKR had bought shares in spring 2020 as an investment, people close to the matter had said earlier.</p>.<p>That move sparked speculation that KKR, which also owns German publisher Axel Springer, may have plans for a combination of the two media companies.</p>.<p>ProSieben also features Italy's Mediaset and Czech billionaire Daniel Kretinsky as investors and some investors had bet on an even larger media merger deal.</p>.<p>KKR and ProSieben declined to comment.</p>.<p>After the placement, KKR continues to hold a roughly 2% stake.</p>
<p>Private equity firm KKR placed a 4.7% stake in ProSiebenSat.1 Media at 13.50 euros apiece, a bookrunner said, sending shares in the German broadcaster down 4.5% Wednesday.</p>.<p>KKR had bought shares in spring 2020 as an investment, people close to the matter had said earlier.</p>.<p>That move sparked speculation that KKR, which also owns German publisher Axel Springer, may have plans for a combination of the two media companies.</p>.<p>ProSieben also features Italy's Mediaset and Czech billionaire Daniel Kretinsky as investors and some investors had bet on an even larger media merger deal.</p>.<p>KKR and ProSieben declined to comment.</p>.<p>After the placement, KKR continues to hold a roughly 2% stake.</p>