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Vivendi-Mediaset: the Italian public prosecutor stirs up tensions

2020-12-13T22:26:50.174Z

The administrative court of Rome is due to rule on Wednesday on the freezing of 20% of the capital of Mediaset held by Vivendi.



In rome

After four years of police investigation following the complaint filed in late 2016 by Silvio Berlusconi, elements of the investigation report mandated by the Milan prosecutor's office leaked to the press on Sunday.

The report accuses Vincent Bolloré and Arnaud de Puyfontaine, then chairman of the supervisory board and chairman of

the executive

board of Vivendi, of “price

manipulation

” and “

of obstructing public control authorities

” in the context of the French group's rise to the capital of Mediaset.

On April 8, 2016, Vivendi and Mediaset entered into an alliance providing for the purchase by the French of Mediaset Premium pay TV.

From June, Vivendi leaked information on the state of the company.

We thought it was a Ferrari, it was just a Fiat Punto

», Summarized Arnaud de Puyfontaine.

While the stock fell 30% between November and December 2016, Vivendi picked up 25% of the capital on the stock market, and rose to 28.8%.

To support its premeditation thesis, the report is based on minutes from Vivendi's supervisory board of February 18, 2016, which authorizes the management board to buy up to 24.99% of Mediaset.

Neither Vincent Bolloré nor Arnaud de Puyfontaine are indicted, the prosecutor still having to hear their lawyers.

Vivendi says it is stunned by the leakage of this report and formally denies having committed any fault.

"

Vivendi reaffirms that it has acquired its stake legally and has always communicated transparently

."

The administrative court of Rome is due to rule on Wednesday on the freezing of 20% of the capital of Mediaset held by Vivendi.

And this, in a particular context: on the one hand, the European Court of Justice ruled in favor of Vivendi, declaring the freezing of this participation illegal;

on the other hand, the Italian government has just passed an amendment "Save Mediaset", which requires the Italian communication authority (AGCom) to study for six months the effect on media pluralism of the entry of a foreigner in the capital.

Source: lefigaro

All business articles on 2020-12-13

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