Mediaset without brakes to Piazza Affari, after the start of the rounding-up of shares by Vivendi, which has said it would become the second largest shareholder of the group television to the shoulders of Mediaset. The title enters and exits the trades, because of the pressure bullish, and is now in the auction of volatility, after having touched at 10 on Tuesday, a rise of 26.4%, the largest rise in the price of square Business for twenty years. Rain, instead, to Paris Vivendi which gives in l'1,68% 18,18 euro. It is probable that the vertices Mediaset, with the chairman Fedele Confalonieri, and the chief executive officer Pier Silvio Berlusconi, do we already have a first point on the purchases of Vivendi.
“Fininvest will not want to go”
The surprise announcement of Vivendi on Monday evening to have the 3,01% of the share capital of Mediaset with a target of 10-20%, so it is flying of the actions of the Serpent in the Stock market. The market speculates on a hostile takeover by the colossus of the average frenchman. Around 9,40 the title jumps from 25% to 3,39%, returning to around the levels of last September, with over 27 million pieces traded, almost four times the average of 30 days. In a report Kepler Cheuvreux writes that “the news has positive implications for Mediaset because of the move, Vivendi seems to be the first step of a hostile bid. However, we believe that in the short term, Mediaset is not a target because Fininvest holds 41% of the share capital and do not want to exit from its historical business, while in the medium and long term we can not exclude this hypothesis”. Also Akros stresses that “Vivendi cannot afford an offer on the share capital of Med iaset, which would cost, with a premium of 20% on the current price for the 65% of the shares not in the hands of Fininvest, to just under eur 2.5 billion, which is in line with the ability of net cash available at the end of this financial year”.
Mediaset: “Attempted hostile climbing”
Mediaset, meanwhile, has denounced the move as an attempt by hostile climbing is facilitated by the depreciation of the title caused by the driving back of the French on the acquisition of Premium; the Serpent, he said to continue in litigation act, after the stop at the sale to Vivendi of 100% of Premium last July. Fininvest has stressed that “does not intend to retreat even a step from its position as reference shareholder of Mediaset” and “you will protect in all locations and with all the means.”
December 13, 2016 (changes to 13 December 2016 | 14:56)
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