Italy: the holding company Fininvest (Mediaset) claims €570m in damages from Vivendi

"Fininvest (which owns Mediaset) claims in court, the Court of Milan, €570m in damages from the Vivendi group, and demands that the group respect the Mediaset Premium purchase agreement signed on 08/04/2016," announced Finninvest, the holding company of the family of Silvio Berlusconi, on 23/08/2016.

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. Mediaset has already filed a lawsuit for "payment of damages sustained to date by Mediaset, currently estimated at €50m for each…