MEDIASET After mkt hours Bloomberg reported that Vivendi stated that it had reached 20% of Mediaset capital.
Bloomberg reports comments from Mr Silvio Berluscconi that Vivendi's action is a hostile and that the Berlsuconi family will continue to raise its stake within legal limits.
Reuters reports comments from the Industry minister that the Government is monitoring the situation vis a vis Vivendi and that the way Vivendi is proceeding does not seem to be the most appropriate.
Reuters reported that Milan prosecutors opened a preliminary investigation into alleged market manipulation after Fininvest complained about Vivendi's stake building.
MF reports that Fininvest could make a countermove by intervening in Telecom Italia (controlled by Vivendi with 24.7%) as its capitalisation is less than Vivendi.
Bloomberg reports comments from Mr Silvio Berluscconi that Vivendi's action is a hostile and that the Berlsuconi family will continue to raise its stake within legal limits.
Reuters reports comments from the Industry minister that the Government is monitoring the situation vis a vis Vivendi and that the way Vivendi is proceeding does not seem to be the most appropriate.
Reuters reported that Milan prosecutors opened a preliminary investigation into alleged market manipulation after Fininvest complained about Vivendi's stake building.
MF reports that Fininvest could make a countermove by intervening in Telecom Italia (controlled by Vivendi with 24.7%) as its capitalisation is less than Vivendi.
Mediaset could carry out a EUR 500m-EUR 800m capital increase to fend off moves by Vivendi [EPA:VIV], Italian language daily Il Messaggero reported.
The unsourced article said the proposal was put forward by Intesa Sanpaolo and Unicredit, which are supporting Mediaset. The proceeds from the capital increase would be used to relaunch Mediaset Premium, the pay-TV arm of Mediaset and the centre of dispute between Vivendi and Mediaset.
The report noted Vivendi has built up a 20% stake in Mediaset in the last few days. Fininvest, the holding company of the Berlusconi family that is the controlling shareholder of Mediaset, has increased its stake from 34.7% to just under 40% in response to Vivendi's moves.