September 4, 2019 / 12:44 PM / 3 months ago

Vivendi confirms group has built a 1% stake in Mediaset Espana

PARIS (Reuters) - Vivendi (VIV.PA) has built a 1% stake in Mediaset’s (MS.MI) Spanish unit, a spokesman for the French media giant said on Wednesday, confirming earlier reports.

Mediaset Espana TL5.NC was holding a shareholder meeting on Wednesday to approve a corporate overhaul that would see it merge with Mediaset under a newly created Dutch holding, as part of the group’s pan-European growth strategy.

“I confirm that Vivendi has bought a little more than 1% of Mediaset Espana, representing roughly 3.3 million shares,” the spokesman said, declining to elaborate further on this acquisition.

Reporting by Mathieu Rosemain, editing by Louise Heavens

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