Rome – What emerges is a clash. Vivendi is trying to scale Mediaset to become the second largest shareholder. Fininvest, the financial position of the Berlusconi family, which owns the majority of the Alfa, is raising a wall, raking up shares to prevent them from doing so and complaining of market manipulation to the public Prosecutor of Milan. A game complex, made up of operations both in the stock market, political games. And the courts. At the head of the media company of the French, there is an entrepreneur that we often appoint in the next few months: Vincent Bolloré, 64 years old, breton. Who has taken advantage of the political chaos that is Italian and commitments of the Silvio Be rlusconi in the referendum campaign, to launch an attack on the main Italian private television. His entrepreneurial history tells us that is not a man, from hostile operations on other companies. But it also has a great ability to take advantage of the chaos to do business with. But who is Bolloré? What are his interests in Italy? And who wants to do Mediaset?
What we know so far
Tuesday, 13, in a few hours, Vivendi has risen from 3 to 12,32% of the shares in Mediaset. The day after it has moved a further 4% of shares, the title of which is increased by 5%. the Fininvest, the holding company of the Berlusconi family, which owns the majority of the Alfa, there is, and to defend themselves has purchased 27.6 million ordinary shares of Mediaset up to 40%. A wall against Bolloré. The aim is to avoid the media company of the French arrivals to 20% of the shares of Mediaset to avoid an uncomfortable second-largest shareholder, with a big weight on the board. In fact, many expect the next move of the Bolloré: he asks to convene a shareholders ‘ meeting of Mediaset and asks for a input in the board of directors, the corporate bodies will be renewed in 2018). Finivest, however, has the intention of selling on for dear life: financial, Berlusconi denounced to the public Prosecutor of Milan and Consob alleged market manipulat ion on the part of Bolloré before climbing.
What is a climbing/hostile
The blitz breton in financial circles is called "climbing": the purchase of shares of a company by another to take control of it. Mediaset has called the operation a "hostile takeover". In both cases the goal is the control of the company. But a climb becomes hostile when a man who detenie the majority of the shares opposed the transaction. Vivendi can buy shares up to 29,9%. To overcome this threshold is to launch a transaction public purchase, asking the other shareholders to sell their shares. The reason is that with a share of more than 30% in fact, you get the control of the company.
However, those who know the financial circles, writes the Financial Times, knows that Bolloré is not a manager from hostile takeover. Rather takes advantage of the confusion, politics or of his opponents. It already happened. In 1998 with the purchase of French competitor Havas. Or this year with games, the French Ubisoft, for a long time his chief executive officer has tried to defend from the onslaught of Vivendi. The script is always the same: arm wrestling to the death, before the conquest. But without hostile takeovers.
Vincent Bolloré and his affairs in Italy
born in 1952, born in Boulogne-sur-Seine, in Britain, Vincent Bolloré is the largest shareholder of Vivendi, the media company that owns, among others, Canal+, Universal Music. The entrepreneur has assets estimated by the Forbes of $ 4.7 billion, so as to guarantee the 248esimo place in the ranking of the richest men in the world. But on the other hand Bolloré is not new in the areas of finance, boasting a natural flair for business who accompanies his family for six generations. In 1981, the breton puts you in the cockpit of a empire family since 1822 is "survived with profit in the three wars and 35 French governments, and are exploring the use of the remaining capacity of the defence tricolori", the law on the The Sheet.
The time in which the Italian finance becomes the objective of the French
Bolloré enters the Italian finance through Mediobanca, of which he is a partner since 2002 and second-largest shareholder with a pocket l'8% of the share capital, are bound. By a year, the board of the institute of credit he is also the youngest of his 4 children: 28-year-old Marie. In June 2015, and try the operation more ambitious, and through Vivendi, it performs the climbing on Telecom Italia achieved in record time, 24.9% of the shares. Earned an important place also in General, occupying the post of vice-president until 2013. Today, the entrepreneur owns 0.13% of the insurance company.
Why the political chaos and the family of Berlusconi the benefits?
As has been said, Bolloré tries to take advantage of moments of crisis in order to close good deals. Ten days from a Referendum that rejected constitutional reform and at the same time as the neopremier Paolo Gentiloni presented his government team, the frenchman has announced his climb on Mediaset. For the most attentive observers, this is not a case. Bolloré, which, as he wrote The Sheet, cheered for the No to the constitutional referendum , now can move around in a scene of great confusion on the political level in Italy. Taking advantage of the situation in the home, Berlusconi, where the former premier was committed right on the front of a ‘ no ‘ in key anti-Renzi. In the game has also added Gentiloni, who was minister of Communications in the Prodi government (2006-2008): "Italy is a strong economy. It is not open to the raids," said the premier in the address for the trust level of t he Room, a phrase that many have interpreted as a commentary on the climbing Vivendi.
What can happen if Bolloré puts his hands on Mediaset?
to Dismiss a cause supercostosa with Mediaset or give life to a giant of european tv: these are the two possible scenarios behind the climbing of Bolloré, designed by today’s newspapers.
- To understand the first we must take a step back: on April 8, 2016, Vivendi and Mediaset agree to the sale of pay-tv Premium French group and for a share exchange of 3.5%. In July, Vivendi is to skip the agreement, considering it "unrealistic". Mediaset is due in August, asking 50 million for every month of delay of the contract. The hypothesis advanced by the Corriere della Sera is that Balloré might put on the plate of the shares purchased in these days to close to always the game.
- The second would see the climb of Vivendi an attempt by the French group to create a hub of media and telecommunications on the axis Rome-Paris-Madrid. Balloré, writes M-F, Milano Finanza with 24% of Telecom could "try to give life to a triangulation with Vivendi", involving the Spanish Service. To do this he must go up to 15-20% of Mediaset trying to convince the Berlusconi family. If the climb was successful Vivendi would have done with 25% of the "polo", including shares in Telecom, Mediaset and Telefonica. With a business on television sector in the recovery. In 2016, the business of tv in Italy has increased by 6%, at the altitude of 8 billion. And ago her throat.
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