Mediaset in the sprint at Piazza Affari, while investors already betting on a war of cross-border control of the company, after Vivendi has expressed an interest to capture a share of up to 20%.
The securities of Alfa, that startup could not do, the price, put a sign up more than 20%, gaining share 3,35 euro, a level not seen since last June. To make the detonator to the rally on the Stock exchange the announcement of Vivendi, which last night announced that it had purchased on market, the 3,01% of the share capital with the goal of up to 10-20%. The rise of the title would make it more expensive to rounding-up the French, but Vivendi may already have secured the objective, at fixed prices, if, as possible, holding purchase options that, at this point, should be declared as a participation in "potential".
With the good or with the bad, in short, Vincent Bollorè wants to achieve with the group of Romeo that”strategic alliance” wrecked on the rock of Premium, but on which the financier breton has to build its project of “Netflix” european.
“An obvious operation that is hostile” to Mediaset. The move, in fact, is far from agreed even if the release of the media company transalpina not disposes of all the tones “diplomats”, where it is said that “Vivendi intends to continue to purchase shares of Mediaset in accordance with the conditions of the market, becoming, if possible, the second-largest shareholder industrial Mediaset, with a participation which, in a first time, it may represent between 10% and 20% of the share capital of Mediaset”.
to come To an agreement should, however, be in two, while the group of the Serpent has lifted the barricades already this summer, when it was clear that the appetites of Bolloré did not merely Premium.
It was the same Vivendi, in a statement issued yesterday, to remember the background, from his point of view. The agreement signed on 8 April – which provided for the exchange of shares reciprocal of the 3.5% between Vivendi and Mediaset, and the passage under the insignia of the French 100% of Mediaset Premium – according to Paris, he wanted to be a “strategic partnership and industry” of “international scope” that included “various initiatives related to the production and the joint distribution of the ambitious audio-visual programs, and creating a platform for global television over-the-top”. But, continues the reconstruction of the part of the French, “the planned acquisition of Mediaset Premium has unfortunately given rise to a dispute between Vivendi and Mediaset” and “Mediaset and its shareholder Fininvest have not accepted the proposals of Vivendi aimed at finding an amicable solution to resolve the dispute ”.
The thrust of Vincent Bolloré, and the entrance to “unsolicited”
Bollorè, as usual, has knocked before entering. The "surprise" of a new member to 3,01% has been announced by Mediaset, as to all, via press release. Mediaset remember that from the 25th of July – when Paris has “terminated” the agreement for the Biscione instead, it was a binding contract – the stock has lost 30%, “loss of which Vivendi benefits today investing heavily on the market”. But Fininvest, warns not to “retreat even one step from its position as reference shareholder of Mediaset”, promising that “you will protect in all locations and with all the means to block what he considers a very serious deception that makes havoc on the laws of the market”. “Bolloré and Vivendi showed the ones that were, from the beginning, their true projects”, accused the holding company of the Berlusconi family. And that is: “The agreement reached in the spring and followed a few months after the incredible tur naround, with the breach of a contract absolutely binding, were part of a plan: to create the conditions to bring down artificially the value of the title Mediaset, and launch prices at a discount (the one that looks like a real hostile takeover”. A design that, for Fininvest, has confirmed the move yesterday, “without having even the decency to spare the hypocritical justification of wanting to carry forward that industrial project that reasoning absurd Vivendi had trodden”.
Between treasury shares and the share in the hands of Fininvest (a little less than 35%), Mediaset could be considered "armored". But, with the market capitalization down to just over 3.2 billion, an attempt to scale cannot be excluded. Certainly the operation would be within the reach of Vivendi, which has invested a similar amount to get to the 25% of Telecom. The "first" of 3% of Mediaset – a "paw" rolled in a vacuum of Government – it cost less than $ 100 million. “The entry into the capital of Mediaset – this is explained by Paris – is in line with the intentions of Vivendi to develop its activity in southern Europe and with their ambitions, strategic as the primary international group with headquarters in Europe in the field of media and content”.
No mention of Telecom, although in the past few weeks had circulated the hypothesis of an approach to Mediaset, from all denial, and may in the future prove to be not too farfetched. For its part, Mediaset has decided to be assisted by Intesa and UniCredit to “protect the interests of all shareholders” and assess the real intentions of the French as well as their coherence with the strategies of the corporate..,
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