Vivendi Transfers Part of Its Mediaset Stake to Trust -- Regulator
By Sarah Sloat
Vivendi has transferred a 19.19% stake in Mediaset to a trust, Italian communications regulator Agcom said late Wednesday.
According to the regulator, Vivendi transferred the Mediaset stake on April 6 to Simon Fiduciaria SpA, leaving it with a stake representing less than 10% of the Italian private broadcaster's voting rights.
Last year, Agcom ruled that Vivendi's holdings in Mediaset and Telecom Italia--in which Vivendi holds about 24%--breached Italian antitrust regulations barring companies from having an excessive share in both the domestic telecommunications and media markets. In April 2017, the regulator gave Vivendi a year to address the issue.
The 19.19% Mediaset stake transferred to the trust represents voting rights of 19.95%, Agcom said.
Write to Sarah Sloat at [email protected]