Vivendi reduces to 20% the acquisition of Mediaset Premium. The Alfa threatens a lawsuit billionaire – Rai News

Vivendi confirms the sending of an alternative proposal that provides for the purchase reduced from 100% to only 20% of the capital of Mediaset Premium. Harsh reaction of Alfa that “denounces the exceptional gravity and the absolute wrongness of Vivendi” behavior.

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26 July 2016 Vivendi intends to “continue the discussion” for the capital purchase of Mediaset Premium “with the desire to build a great strategic alliance with Mediaset.” This clarification of the French group in a statement in which it confirmed the sending of an alternative proposal providing for the acquisition of only 20% of the capital of Mediaset Premium and found negative opinion from the Italian television operator. Initially the French group had committed to buy 100% of the share capital of Mediaset Premium. The new proposal contained in the letter sent by the CEO of Vivendi Arnaud de Puyfontaine was dictated “by the significant differences that emerged during the analyzes carried out on the issuer to pay the group, for which talks are ongoing.”

Four days ago Mediaset had sent Vivendi a breach of contract appeal based on three points: non-disclosure agreement Antitrust, non-participation in the Uefa meetings for broadcasts of Champions, close communication at this stage of interim management Premium.

“Vivendi – said in a statement the French company – has made yesterday a new proposal to Mediaset in order to agree on premium after he had exposed, last June 21, significant differences in ‘analysis of the results of its subsidiary Pay TV Mediaset Premium on which the two groups are in talks”.

in a tough reaction of the Berlusconi group. the statement of Fininvest enshrines the great battle at the shareholder level , ie between the Berlusconi group and Vivendi of Bolloré, which so far have always had excellent relations. “Fininvest denounces the exceptional gravity and the absolute wrongness of Vivendi behavior. The decision announced – continues the statement – of not wanting to honor a valid and binding agreement, duly signed by the parties and approved by all the respective competent bodies, violates the most basic principles of law as well as economic ethics. Are broken – adds Fininvest – the cornerstones that ensure a fair and orderly functioning of the market. And the attitude leaves Vivendi clearly perceive that his real, not declared goal – beyond the undoubted industrial value of the agreement signed – was actually the one to form a surreptitious and unacceptably an extremely important position among the shareholders of Mediaset “, concludes the holding company of the Berlusconi.

” we do not want control, “said the CEO of Vivendi Arnaud De Puyfontaine at a press conference in Milan. the CEO declined to comment or specify the terms of negotiations with Mediaset but reiterated that “the goal does not change, it is to create a large group; changes the way to achieve it. “” We are discussing – he added – and we want a solution that is satisfactory for both. “

With a new note, Mediaset rejects the statements of De Puyfontaine,” There is no no negotiation going on between Mediaset and Vivendi “reads the document in which the precise group that” the negotiation has already taken place and ended with the contract duly signed by the parties the April 8, 2016. “Mediaset adds that” the ‘ analysis of results Premium is obviously took place before the signing, as is the case prior to any commitments. “Finally Mediaset confirmed” that he had never received any formal dispute the validity or the content of the contract. “

so, now after more than three years of analysis of their ‘skills’, an agreement without providing penalties that foreshadowed a European alliance in pay TV with the stock exchange by 3.5% between with parent input in their respective Board of Directors and an assessment a premium of more than 700 million, the result is a possible cause for damages from the Alfa could substantially exceed one billion.

as soon as it spread the announcement of Alfa Romeo on the intention not to comply fully Vivendi the contract for the purchase of Mediaset Premium, reducing the portion to be detected from 100 to 20%, the stock collapsed at the Milan stock, losing 13.87%. So the title has been frozen. In mid-session, the title, which had been re-admitted to trading, recorded a – 10% to close with a 6.9% dry.