Vivendi and Mediaset agree to end the legal battle
Vivendi and Mediaset have reached an agreement to end a long-running legal battle in which the French media conglomerate will see it sell the majority of 29 percent of Italian television for the next five years.
Agreement he announced Monday night Vincent Bolloré, a French billionaire who controls Vivendi and including Canal Plus and Universal Music, will resolve the conflict he has waged against the family of former Italian Prime Minister Silvio Berlusconi, who runs Mediaset.
“Vivendi, Fininvest [the Berlusconi family holding company] and Mediaset is pleased to have reached a global agreement to end their disputes by rejecting all lawsuits and claims between them, ”the companies said in a joint statement.
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By Reuters Staff
(Adds comments from sources, updates shares)
MILAN, April 29 (Reuters) - Vivendi and Mediaset are working on the terms of a possible deal to end their years-long legal war, two sources close to the matter said on Thursday, as shares in the Italian broadcaster hit a 17-month high on the prospect of a truce.
The two media companies have been at loggerheads since 2016, when Vivendi walked away from a pay-TV deal and then built a 29% stake in Mediaset, which the Milanese group considers hostile.
A settlement with Vivendi would help Mediaset to pursue a plan it unveiled on Monday to move its legal headquarters to the Netherlands making it easier to build alliances with peers across Europe.
By Syndicated Content
Apr 28, 2021 4:11 AM
ROME (Reuters) â Shares in Mediaset rose sharply on Wednesday amid signs Italyâs top commercial broadcaster could be moving closer to ending years of legal sparring with Franceâs Vivendi.
Mediaset and its second-biggest investor Vivendi have been at loggerheads since 2016, when the French media group walked away from a pay-TV deal and then built a 29% stake in Mediaset which the Milanese group considers illegitimate.
The two groups are working to reach an accord, two sources close to the matter told Reuters on Wednesday, after MF daily reported a compromise deal to end the legal war was only âa step away.â