The “treasure” of the Milan Mediaset’s secret weapon in the fight with Vivendi – Il Giornale

with the sale of Milan, Fininvest is strengthened in view of the legal battle with Vivendi following the failure by the French, the contract signed with Mediaset to purchase premium. The sale of the Rossoneri to Sino-Europe Investment Management Changxing, consortium of Chinese associates owned by the state fund Haixa Capital, in fact enhances both the grip of Fininvest on strategic activities is the very structure of holding the balance: a few days ago the President Marina Berlusconi defined ripping Vivendi an example of “cannibalistic capitalism.”

All this while the Galaxy Fininvest companies are giving strong signs of growth. Mediaset, in fact, closed the first half with advertising sales improved by 3.7% in Italy and 7.3% in Spain and Mondadori (which holds 37% of this daily) is integrating the RCS Books and it generates a substantial cash flow: in late June 79.4 million in the twelve months. But of Mediolanum (including Fininvest has about 30%), the half-year showed an increase in assets under management (71.5 billion) and a strong capital base.

The sale of the Rossoneri well then it inserts in this strategic scenario. More specifically, AC Milan was assessed 740 million, including debt (220 million). Which, on a consolidated level, it means that Fininvest with the collection of more than half a billion will reduce the Group debt amounted to about 790 million today. Not only that, according to preliminary reports, the operation brings into the coffers of the group a capital gain of about 500 million, are able to make profits take off. As instead regards the parent company Fininvest SpA, technically there will be no capital gains, because the sale price coincides with the value on the balance sheet of the Milan team. Nevertheless, the collection will be flying to the expansion of net debt, now active in 330 million, expanding the “ammunition” at the disposal of the family Berlusconi to address, first of all, the announced legal battle with France’s Vivendi.

At the end of July Paris he announced that they no longer comply with the premium acquisition agreement signed on 8 April with Mediaset. The agreement provided for an exchange of shares by 3.5% between Mediaset and Vivendi, on the sale of premium in Paris and industrial collaboration projects. The French, however, have changed the cards on the table, making it known it would acquire not 100% but only 20% of the premium, but instead to aim at 15% of Mediaset, due to “disagreements” on the business plan premium. These reasons that, just a few days ago, Pier Silvio Berlusconi, Mediaset number one, has branded as “ridiculous”, noting that Vivendi had available the dossier on the pay TV as much as one month before the contract is signed. “These contracts are binding,” he stressed the head of Mediaset company, which has already stated its willingness to protect the interests of the group, to take the field in civil and criminal proceedings. The Fininvest financial strengthening guarantees to Mediaset greater serenity when the times of controversy lengthen. In short, the sale of Milan, strengthens Mediaset’s position in view of the clash with Vivendi.