Italy: Mediaset files lawsuit against Vivendi over the sale of Mediaset Premium

"With regard to the ongoing litigation between Mediaset SpA and Vivendi S.A., Mediaset today filed a suit at the Central Court of Milan, for notification to Vivendi of the action taken, in defence of the effective completion of the binding contract signed between the parties 08/04/2016," stated the Italian free and pay-TV group, on 19/08/2016.

An initial agreement between the two companies, announced on 08/04/2016, provided that the French group Vivendi would enter in the capital of Mediaset at 3.5%, and would also take a 100% stake in Mediaset Premium, valued at €800m. In exchange, Mediaset would enter into the capital of Vivendi at 3.5%. The target date of the entry into force of the agreement is set for 30/09/2016.

Mediaset has rejected the proposal for "a new agreement" from Vivendi to acquire 20% of Mediaset Premium, on 27/07/2016, citing that the offer is "inconsistent with the terms of the contract already signed by the two parties", stated the Mediaset board of directors, on 28/07/2016. The Mediaset board of directors "authorizes all necessary measures to ensure compliance…