Vivendi public offer on Mediaset would be blocked by communications regulator (translated)
Agcom, Italy's communications regulator would block any public offer for Mediaset [BIT:MS] by Vivendi[EPA:VIV], Italian language daily Il Sole 24 Ore reported. The report cited sources at AGCOM who said that Consob, Italy's securities regulator, would take similar action.
In response to Vivendi building up a stake in Mediaset, Agcom noted in a press release earlier in the week that a company holding over 40% of the Italian telecommunications market is by law prohibited to control television, radio or publishing companies holding more than 10% of the market in terms of revenues, the report noted.
Agcom noted that Telecom Italia [BIT:TIT], of which Vivendi is the largest shareholder with a 24.68% stake, according to 2015 data held 44.7% of the telecommunications market while Mediaset held 13.3% of the TV, the radio and the publishing market.
Agcom noted any operation aimed at taking control of both TI and Mediaset could be vetoed.
Another article in Il Sole 24 Ore cited Vivendi CEO Arnaud de Puyfontaine as saying that the company had no intention of taking over Mediaset and was instead looking to negotiate an industrial alliance between Vivendi and Mediaset.