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Vivendi Transfers Part of Its Mediaset Stake to Trust -- Regulator

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04/11/2018 | 08:21 pm


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]





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