Mediaset alliance with Vivendi-equity exchange in sight – Il Sole 24 Ore

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This article was published April 2, 2016 at 10:21.
the last change is the 2 April 2016 at 14:56.

decisive week to define the industrial alliance between Mediaset and Vivendi. Negotiations between the two media groups have entered the final stage and it is possible that the agreement arrivals in days even though the Board of Directors to approve the transaction have not yet been convened. The cornerstone of the agreement consists of an exchange of shares between the parent company, which – according Radiocor Plus – will focus on 3.5% of their respective social capital: for the swap will be used to treasury shares held by the two companies (Vivendi has 6 , 3%, Mediaset 3.8%) and the difference in value will be compensated through the transfer to the French pay-TV premium of Cologno Monzese. To the Stock Exchange yesterday, the subject of the exchange of shares worth around 870 fact with regard to the share of Vivendi and about 150 million for Mediaset.

The transfer of pay-TV will include the controlling stake (89%) in the hands of Mediaset but in all likelihood 11% of Telefonica: the pacts signed in 2014 in fact provide for the possibility of asking for Mediaset Spanish to alienate to third parties its stake in the event of the sale of premium. Then, pay-TV was valued 800 million equity value to which were added 100 million cash: the final evaluation of pay-TV, which has 2 million subscribers and 559 million revenues in 2015, will eventually be slightly different dimensions of the stock exchange. Besides swap, which should also involve reciprocal representation on the boards, and the passage of a premium, the alliance will also involve a partnership on the TV via streaming from Infinity (Mediaset) and Watchever (Vivendi).

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