Mediaset Premium: Vivendi proposes to Mediaset a new, modified offer to save their agreement

The French media and entertainment group Vivendi could consider taking a 40% stake in Mediaset Premium, with the Italian broadcaster Mediaset retaining 40% (the remaining 20% would go into the hands of an investment fund or another telecom operator), reported the French media outlet Le Monde on 03/10/2016.

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%.

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 month of delay in meeting the terms of the agreement on the part of Vivendi…