Vivendi propose "a new agreement" to acquire 20% of Mediaset Premium

Vivendi has arrived at "significant differences" with the executives of Mediaset in the analysis of the results of its pay television subsidiary Mediaset Premium, on which the two entities are in negotiations, said the French group on 26/07/2016. Vivendi has made a proposal to Mediaset to "find a new agreement on different terms and to continue discussions", and has confirmed its intention to "build a major strategic alliance with Mediaset and Mediaset Premium". The new agreement announced by Vivendi group would only involve a 20% stake in Mediaset Premium.

The Italian group Mediaset denounced that Vivendi had proposed an alternative offer, which calls into question the "industrial logic" of the agreement which would have "significant" impacts on Mediaset capital. This revision of the agreement is linked to the "higher than expected" losses of Mediaset Premium.

"A total surprise" for Mediaset

• The original agreement, announced on 08/04/2016, provided that Vivendi would acquire a 3.5% stake in the capital of Mediaset and a 100% stake in Mediaset Premium, valued at a culmative…