Italy: "advanced" discussions between Mediaset and Sky for the sale of Mediaset Premium (press)

The British broadcasting conglomerate Sky and the Italian broadcasting group Mediaset may be "in advanced discussions" about the sale of Mediaset Premium, according to Il Sole 24 Ore on 17/02/2017. The main obstacle is the price, but the two sides "seem close to an agreement," according to the Italian financial daily.

The objective would be to anticipate a possible takeover bid by the French conglomerate Vivendi, as Mediaset and Vivendi did not reach an agreement for the acquisition of Mediaset Premium in 2016, and Vivendi owns 29.9% of Mediaset (since 19/12/2016). However, any agreement between Sky and Mediaset could lead to an investigation by the Italian antitrust authorities, insofar as Sky Italia and Mediaset Premium are the joint holders of domestic TV rights to the Serie A TIM.

Agcom must give its opinion regarding its inquiry into the increase by Vivendi into the capital of Mediaset on or before 21/04/2017. Vivendi also owns a 24% stake in Telecom Italia, however, issues arise from the fact that Italian law prohibits a company from have an "excessive" market share in both…