The anti-Netflix alliance between Vivendi and Mediaset is heating up the stock market. And then it cools it. The hypotheses on close negotiations for an axis between the two groups, on which a long article in the Republic is pointing today, caused the Alfa stock to rise by 2% before sinking to -2,7% and now planing to -1,6 % to 3,708 euros. It was Silvio Berlusconi who held the brakes who, on the radio, spoke only of "forms of collaboration" for Mediaset. “Vivendi – he said – is very interested in Italy. I have been a friend of Mr. Bolloré for many years: he has an interest in some things that are done in Italy, absolutely not Mediaset, but some things like our ability to make products for all televisions, formats, programs and the film portfolio and other very vast spectacles”.
"With Vivendi - resumed Berlusconi - forms of collaboration could be found, but I'm not very informed because my son Pier Silvio and Fedele Confalonieri take care of everything".
In the morning, Mediaset shares had taken off with a bang in the wake of press rumors which indicated that a negotiation was close to being concluded which would have brought Mediaset's TV channels under the French banner of Videndi, the transalpine giant led by Vincent Bolloré who is also the Telecom Italia's largest shareholder with 24,9%. A match, the one on television content, which is intertwined with those on Telecom's strategies where the shareholder Bolloré has entered into a collision course with CEO Marco Patuano from which formal resignations from the board are expected in the very short term.
According to rumors collected by La Repubblica, the Berlusconi family and the top management of the transalpine company have already reached an agreement in principle in which the alliance does not take place at the lower level between Canal Plus and Premium but directly with a share swap between Vivendi and Mediaset. The goal is to have French pay TV manage Mediaset's premium channels and to co-produce quality content to be broadcast on internet TV in order to limit the diffusion of Netflix in southern Europe. Furthermore, Mediaset's fate would be secured within a European-level group.
The change of hands would take place gradually so as not to dissatisfy Berlusconi's children who are opposed to a change of hands tout court but the subsequent steps of the operation would be indicated from the outset which will move control of the Alfa TVs within a few years under Vivendi's umbrella. In return, the Berlusconi family would become an important shareholder of the French group. This hypothesis, however, has not found confirmation in the words of Silvio Berlusconi on Radio RTL 102,5 this morning.
On the match, the Renzi government, informed of the ongoing negotiations, would have chosen a neutral position, leaving carte blanche to the companies to find or not an agreement.
The other aspect of the negotiations would then be the fate of the transmission towers. Telecom Italia, a 60% shareholder of Inwitt, put 45% of its stake up for sale and the board of directors on Thursday 17 March should have decided between the two offers presented by Cellnex-F2i and Ei Towers (Mediaset). Instead, it was decided to wait and it is not excluded that this is part of the match that Bolloré is playing with Berlusconi on Mediaset. However, on this matter - unlike the TV negotiation - it is possible that the government wants to make its voice heard and therefore pushes for a transfer of the Telecom towers to Raiway in a pole whose majority will have to remain public.
