Mediaset may carry out EUR 500m-EUR 800m capital increase to ward off Vivendi attack
Mediaset [BIT:MS] 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.