Mediaset and Vivendi to engage in share swap to cement content platform deal
Mediaset [BIT:MS], the Italian media group, and Vivendi [EPA:VIV] its French counterpart, are to engage in a share swap to cement a pan-European TV content deal, Italian language daily Il Sole 24 Ore reported. The unsourced report said that the share swap would lead to Mediaset holding 3% of Vivendi while Vivendi would hold the same stake in Mediaset.
The report noted that as Vivendi has a market capitalisation of EUR 26bn and Mediaset only only EUR 4.5bn, Vivendi would be compensated by taking a stake in Mediaset Premium, Mediaset's pay-TV division.
The report noted, however, that Mediaset has no intention of giving up control of Mediaset Premium because it is considered strategic to the group's operations.
The report added that Mediaset is receiving legal advice from Chiomenti and Vivendi from Carnelutti.
Il Sole 24 Ore