Police have raided the headquarters of French media giant Vivendi as part of the ongoing investigation into market abuse as during its acquisition of a stake in Italian firm Mediaset.
The dispute between the two companies and their high-profile heads Vincent Bollore and Silvio Berlusconi has gone from boardrooms to lawyers and the courts.
The investigation was launched by prosecutors in Milan after a criminal complaint was filed by Mediaset and Berlusconi’s Fininvest. The offices of Natixis, the French bank used by Vivendi to make its purchase, were also searched.
In a statement, Vivendi said its actions had always been proper. “Following Vivendi’s complaint against the Berlusconi group, which resulted in a search, Vivendi’s management reiterates that it has acquired its shareholding in Mediaset in a legal and transparent manner and looks forward to the closure of this dispute.”
Vivendi is currently holds 28.8 per cent in Mediaset and is the largest shareholder after the Berlusconi family.