It gets harder and harder the clash between Mediaset and Vivendi while the meeting of 4 September approaches which will have to make a decision on the reorganization of the group.
On 22 August Mediaset filed a complaint in Consob in which he reports to the supervisory authorities led by Paolo Savona that “again Vivendi is acting to depress the Mediaset share price” and invites the French to “take a public and unequivocal position” on his intentions. The news was communicated by the Cologno Monzese company itself which cites, among the various attempts, the "artfully induced rumors" by the French group.
In its note, Mediaset gives some practical examples, the first of which referred to last July: "as soon as the Mediaset share touched the threshold of 3 euros per share, thus deviating appreciably from the withdrawal value - writes the company - Vivendi leaked unconfirmed news with the clear intention of discrediting both the merits of the cross-border merger operation approved by the Boards of Directors of Mediaset and Mediaset España last June 7, and the possibility of realizing it”.
According to the company, Vivendi would therefore be making "unlawful behavior that damages Mediaset, Mediaset Espana and their shareholders, who find themselves facing a performance of the stock heavily conditioned by artfully induced rumors”, continues the note.
Another example cited are the rumors reported on August 20 by the Bloomberg agency which spoke of the will of the French to say No to the restructuring.
We recall that in early June, Mediaset announced its intention to create a new parent company: the Dutch company Mediaforeurope (MFE). The new holding company will arise from the merger between Mediaset, Mediaset España and Mediaset Investment NV, will be listed in both Madrid and Milan and will have its tax office in Italy and registered office in Amsterdam. Once the rearrangement is complete, Fininvest will hold 35,43% of Mfe, but more than 50% of the voting rights, Simon Fiduciaria will dilute to 15,39%, Vivendi to 7,71% and the market to 41,47%. But be careful because the shareholders will have the opportunity to exercise the right of withdrawal which provides for the recognition of 2,770 euros (6,5444 euros for Mediaset España) for each share held.
Mediaset's reasoning is clear: if Mediaset shares rise and move away from the price set for withdrawal, it would be less convenient for shareholders to exercise it. Vivendi, with its indiscretions, would therefore try to condition the performance of the share, keeping it around the threshold of 2,7 euros.
Looking at the data, since last July, the Mediaset stock has been subject to numerous ups and downs. The departure, Monday 3 July, is at 2,577 euros. Then the peak of 20 July at 3,034 euros. From that moment on, a constant decline to the 2,593 euros reached on 13 August. From here a quick recovery up to the monthly maximum of 16 August equal to 3 round euros. On August 22, Mediaset shares closed the session with an increase of 0,5% to 2,95 euros.
