Mediaset-Vivendi, agreement found: the French out of Biscione in five years. Both companies waive pending cases

Mediaset-Vivendi, agreement found: the French out of Biscione in five years. Both companies waive pending cases
Mediaset-Vivendi, agreement found: the French out of Biscione in five years. Both companies waive pending cases

Peace made between Mediaset e Vivendi. After five years of fighting, court cases and mutual hostility, the two companies announced they had found an understanding. The French, partners of the Italian television group with almost the 30% of the capital, intend to sell 19.9% ​​of the shares (held by Simon trustee) within 5 years and undertake not to interfere in the European project del Biscione. At the same time, both companies renounce all pending cases, including the one in Milan for failure to purchase Premium. Vivendi, Fininvest and Mediaset “are pleased to announce that they have achieved a global agreement to put an end to their disputes by mutually renouncing all pending lawsuits and complaints “, reads a note that came at the end of a very tight negotiation. The company headed by Vincent Bollore, continues the press release, has undertaken to sell on the market the entire 19.19% stake in Mediaset held by Simon Trustee over a period of five years and Fininvest will have the right to purchase any unsold shares in each 12-month period, al set annual price. Vivendi will in turn sell part of its shares by the summer and will remain a shareholder of Mediaset with the residual share of the 4,61%.

The deal was in the air already in the afternoon, when the first details relating to emerged negotiations ongoing between the two companies. According to what has been learned, the lawyers have also worked during the weekend and the agreement was not considered closed until the last, since already a fine 2019 things seemed done but then everything jumped to the final stages. Certainly over the past few months the scenario has changed with respect to the attempts at ‘peace’ that the two groups had carried out over time, with the decision of the Court of Milan two weeks ago under which Vivendi should compensate Mediaset for a sum of 1.7 million for failure to purchase Premium. The Court of Milan Civil Section had rejected, however, the other two requests for compensation of the Italian group against Vivendi regarding the violation of shareholders’ agreements and unfair competition following the Premium affair. But there are other pending lawsuits on which Mediaset will take a step back: the last bone of contention between the two groups was the project MediaForEurope that Vivendi had asked to lock in various registered offices.

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