Mediaset against the ally Vivendi . In a statement, the Alfa accuses the French led by Vincent Bolloré not to respect “contractual obligations” under the Agreement closely last April 8 on the game Mediaset Premium . The Cologno Monzese society speaks of “a blatant contradiction to their commitments” and is said determined “to enforce all their rights in every home”. The Biscione, reports the agency AdnKronos , is considering legal action for compensation of more than 1.5 billion euro . And the title falls on the stock market.
Vivendi, explains the group known driven by Piersilvio Berlusconi , confirms the exchange of 3.5% of Vivendi’s capital and 3.5 % of Mediaset capital but proposes to buy only 20% of Mediaset Premium and get to hold in three years about 15% of Mediaset capital through a convertible bond issue. The previous agreement was stipulated in the purchase of 89% of the premium by the French. The new proposal of the French, says Cologno Monzese, “changes the industrial value underlying the agreement to significantly alter the position of the Mediaset capital”. The letter of Vivendi, Mediaset writes, “eludes a timely response to an ‘ notice addressed to the Commission by Mediaset to fulfill its contractual obligations – so far unfulfilled – first to promptly notify the purchase of the Mediaset Premium control to Antitrust Commission of the EU “. From here, the final attack against the French: “The Vivendi Communication is an absolute novelty for Mediaset and not agreed. Is a blatant contradiction with the commitments made by Vivendi with the contract signed on April 8, concluded after long negotiations with the approval of all the relevant bodies of both sides. “
and later Fininvest , which controls the majority of Mediaset, the uproar, denouncing “the exceptional seriousness and absolute impropriety of Vivendi’s behavior” on the issue Mediaset Premium. “The attitude of Vivendi – continues Fininvest – clearly leaves to guess that his real, undeclared purpose was actually to build up surreptitiously and unacceptable way, a extremely important position among the shareholders Mediaset” .
for his part, the CEO of Vivendi Arnaud De Puyfontaine at a press conference in Milan confirmed: “ we do not want the Mediaset Premium “. And he explained: “The goal does not change, it is to create a large group: changes the way to achieve it. We are discussing and we want a solution that is satisfactory for both. ” Expanding the discourse to match Telecom, De Puyfontaine stated: “We are happy with our stake in Telecom and we have no intention of increasing it.” While on the assumption of the merger between Mediaset and Telecom, “there are no projects but neither preconceptions and we have an open mind.”
Vivendi, said in a response statement, “wishes to clarify that its CEO , Arnaud de Puyfontaine , in a letter dated June 21 Mediaset informed about significant differences in the analysis of the results Mediaset Premium, for which the two companies are currently in negotiations ” . In addition, the note continues, “the group carried out yesterday a proposal to reach a new agreement, in different terms, in order to continue negotiations”. Vivendi, the note concludes, “confirms his desire to build a great strategic alliance with Mediaset and Mediaset Premium.”
After the release of Cologno Monzese, Square Business title Mediaset has not entered into negotiations, suspended for excessive downward. In a second step, the Alfa was readmitted to trade, but losing 13%.
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