Timeline: Twists and turns in Mediaset vs Vivendi Television drama

Mediaset and Vivendi have been at odds since 2016 when the French conglomerate pulled out…

Mediaset and Vivendi have been at odds since 2016 when the French conglomerate pulled out of an 800 million euro ($964.08 million) settlement to purchase Mediaset’s reduction-building spend-Television unit.

Here is a timeline tracing the dispute.

** April 2016

Vivendi agrees to invest in Mediaset’s Premium pay-Television set organization, billed as a big move in billionaire businessman Vincent Bollore’s approach to make a southern European content material and video clip-on-demand powerhouse. The two businesses agree to just take a 3.5{6557c92bab376e861f4db2362dd750ed9808ade9f2baf81ac39a444313a64dce} stake in each and every other as portion of the offer.

** July 2016

Vivendi backs away from the unique offer, proposing an option that would give it a even bigger immediate stake in the broadcaster than to begin with agreed.

Vivendi suggests the primary cause for the alter is the unreliability of Mediaset Premium’s annual financial forecasts in excess of the 2016-2018 time period.

The offer falls apart as Mediaset rejects the new proposal by Vivendi and announces legal action in opposition to the French team.

** Dec. 2016

Vivendi builds up a 28.8{6557c92bab376e861f4db2362dd750ed9808ade9f2baf81ac39a444313a64dce} stake in Mediaset about the thirty day period in a move condemned by the Italian broadcaster.

** April 2017

Italy’s conversation regulator orders Vivendi, which is also the prime shareholder in Telecom Italia, to lower its stake in either the telecoms team or Mediaset in a calendar year to comply with regulations made to stop a concentration of electricity.

** April 2018

Vivendi transfers 19.19{6557c92bab376e861f4db2362dd750ed9808ade9f2baf81ac39a444313a64dce} of its shareholding in Mediaset to a have confidence in to comply with the April 2017 ruling by the Italian communications regulator.

** Sept. 2019

Mediaset shareholders back again a plan, unveiled in June, to generate a pan-European media group underneath a new Dutch keeping, fending off opposition from Vivendi.

Below the approach, each Mediaset and its Spanish unit will be merged into a Dutch organization dubbed MediaForEurope (MFE).

Vivendi, which states the new construction tightens the grip of Fininvest on the group, problems the program in court in Spain, in Italy and in the Netherlands.

** June 2020

Mediaset improves its total opportunity stake in German broadcaster ProSieben to 24.2{6557c92bab376e861f4db2362dd750ed9808ade9f2baf81ac39a444313a64dce} as it presses ahead with its have plans to develop a pan-European Television set champion.

** Aug. 2020

Mediaset claims it is withdrawing plans to restructure beneath a Dutch holding company but adds its tactic remained valid and it would seek out choices.

Vivendi asks to meet up with prime executives at Mediaset to go over a deal to close its extensive-managing row. Mediaset mentioned any prospective deal would have to involve payment.

** Sept. 2020

The EU’s Court of Justice regulations that the Italian law that forced Vivendi to forfeit two thirds of its stake in Mediaset violates the bloc’s procedures, practically handing back voting legal rights for its entire 29{6557c92bab376e861f4db2362dd750ed9808ade9f2baf81ac39a444313a64dce} stake in Mediaset.

** Nov. 2020

Italy approves laws necessitating communications watchdog AGCOM to start off a probe into Vivendi’s twin stakes in Mediaset and TIM. The investigation could bring about other constraints on the French group’s pursuits in the region.

Vivendi lodges a complaint with the European Fee.

** Dec. 2020

Italian prosecutors conclude a probe into Vivendi’s Vincent Bollore and Arnaud De Puyfontaine for alleged current market manipulation and obstruction of regulators in a scenario involving the French group’s stake building in Mediaset

** Jan. 2021

Mediaset and Vivendi are among the likely rival bidders in the race for the controlling stake in French broadcast group M6 sources near to the make any difference explained to Reuters.

($1 = .8298 euros)

(Reporting by Elvira Pollina)