Vivendi agrees to place bulk of 29.9% stake in Mediaset into blind trust - report (translated)
05 AUG 2017
Vivendi [EPA:VIV] is to put the bulk of its 29.9% stake in Mediaset [BIT:MS] into a blind trust, Italian-language daily Il Sole 24 Ore reported. The unsourced report said that under the proposal, a 19.9% stake would be placed into the blind trust.
The report added that the proposal had been passed to the Italian telecoms regulator, AGCOM.
The voting rights of the shares placed in the blind trust would be frozen, the report added.
AGCOM is now likely to insist that Vivendi take moves to sell the stake placed in the blind trust.
Mediaset has a market cap of EUR 4.03bn.