In April Vivendi and Mediaset announced a ‘industrial partnership’ that later collapsed amid acrimony and is yet to find an amicable solution.
The partnership called for Vivendi to acquire 3.5% of Mediaset’s share capital and 100% of the shares in Mediaset Premium in return for 3.5% of Vivendi’s share capital.
In a statement, Vivendi said the strategic interest of the partnership supersedes that of the ongoing lawsuit. “Becoming a Mediaset shareholder is, for Vivendi, in line with the Group’s intention to develop its activities in Southern Europe and its strategic ambitions as a major international, European-based, media and content group.”
The purchase is the latest twist ion the Vivendi-Mediaset alliance that had seen Vivendi pull out of plans to buy Mediaset’s DTT pay operation after Vivendi’s auditors Deloitte described the business plan and a 2018 breakeven as “unachievable”.