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Mediaset main owner could take Telecom Italia stake to settle Vivendi dispute - paper
March 1, 2017 / 8:24 AM / 10 months ago

Mediaset main owner could take Telecom Italia stake to settle Vivendi dispute - paper

MILAN, March 1 (Reuters) - The Berlusconi family’s investment holding Fininvest could take a stake in Telecom Italia as part of a proposal to settle a dispute with French media group Vivendi, Il Messaggero said on Wednesday, citing advisors.

* Fininvest, the main shareholder in Italian broadcaster Mediaset, and Vivendi have been at loggerheads since July, when the French group led by Vincent Bollore antagonised the Berlusconis by pulling out of a deal to take over Mediaset’s pay-TV business Premium.

* Vivendi has since built up a stake in Mediaset of 28.8 percent, making it the second biggest shareholder after Fininvest. The French group is also the biggest investor at Telecom Italia with a 24.9 percent stake.

* According to Il Messaggero, Vivendi could reduce its stake in Mediaset to 9.9 percent, placing the other shares in the broadcaster with funds, while Fininvest would take a stake of up to 9.9 percent in Telecom Italia.

* Parallel to the stake building, Vivendi would get two seats on Mediaset’s board and Fininvest two on Telecom Italia‘s.

* The idea appeals to former prime minister Silvio Berlusconi who is following developments, the paper said.

* Mediaset and Vivendi were not immediately available for comment. (Reporting by Agnieszka Flak, additional reporting by Gwenaelle Barzic, editing by Louise Heavens)

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