Milano Mediaset passes counterattack. The board met yesterday in Cologno to approve the interim financial statements considered “inadmissible” the new proposal of Vivendi for Mediaset Premium, which was then returned to the sender together to notices to execute the contract already signed or they will be in civil courts “and possibly criminal.”
the note Mediaset
What the French decide to retrace their steps are unlikely. The same Mediaset in the note attached to the half-yearly accounts considered that has failed to Mediaset Premium “the high probability of achieving the operation within twelve months” and for that pay-TV has been included among the operations and no more including those held for sale. “We are willing to have talks with Vivendi, but the value of the contract can not be changed or at least can be changed only in one direction, can not be reduced,” he said yesterday the cfo of Mediaset, Marco Giordani.
cause
The word, therefore, passes now legal. And the answer to Vivendi will be tough. As well as in civil courts the Alfa is also considering the use in a criminal court, with request for damages and possible precautionary seizure of Vivendi securities. Which by return he said that is considering in turn to denounce Mediaset for defamation because, said a spokesman, the statements of the Italian group “dented the reputation and image of Vivendi.”
The issuer’s half-yearly accounts of Alfa
an outcome like that was unimaginable when Cologno and Vivendi in April announced the alliance with the aim of creating a European player in the pay-TV. Yesterday came the Premium numbers, which confirm what we already knew: breakeven in 2017 and profit in 2018. The half-year results, however, are better than expected: in the last quarter of this year the red was 37.1 million compared to an estimated $ 39.8 million, and the previous 63.7 million against the expected 65.8. The predictions are contained in the three-year plan judged “optimistic” by Deloitte and challenged by Vincent Bolloré with the request to review the agreements.
More generally, the Mediaset half-year accounts approved yesterday showed an increase in revenue share 1.87 billion, of which 1.34 billion in Italy and 521 in Spain. Advertising sales rose by 3.7% in the first six months, down to 1.04 billion, an increase of 4.6% in the second half. Declining operating profit, amounting to 97 million, and net income, in the red for 27 million.
July 29, 2016 (amendment July 29, 2016 | 07:40)
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