Mediaset Premium: Mediaset withdraws "urgent action" regarding sequestration of 3.5% of Vivendi

The Italian audiovisual group Mediaset has withdrawn its request for the sequestration of a 3.5% stake in Vivendi due to "documentation (which) shows that a large proportion of the company's (Vivendi's) shares are held as treasury stock for a period of time compatible with the expected legal proceedings (for the dispute between the two parties concerning the acquisition of Mediaset Premium)," announced the Italian audiovisual group on 18/11/2016.

"Mediaset has requested, on 12/10/2016, the sequestration of 3.5% of the capital," Vivendi announced on 19/10/2016.

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"…