ASuccession-style boardroom battle is playing out in Europe.

MFE hadnt responded to a request for comment by press time.

MFE had claimed there was no material progress made on the restructure.

MFE is the largest shareholder in ProSiebenSat.1

MFE (aka Mediaset) is the largest shareholder in ProSiebenSat.1Jan Pitman/Getty Images; Alessandro Levati/Getty Images

Instead, the ProSieben boards once again proposed selling parts of the business to raise cash.

This related to EYs performance auditing its operations in recent years.

ProSieben will examine whether to file a claim against EY over the issue.

Maria Kyriacou

In his will, heleft control of the companyto children Pier Silvio Berlusconi and Marina Berlusconi.

But it claimed there were clear signs of recovery both internally and in the European TV advertising market.

A resolution to its management structure would go some way to achieving that.