The news comes like a bomb, with markets closed, after another day of fire for Mediaset in Piazza Affari, even if in the end the Biscione closed by gaining only another 1%, after yesterday's rally of over +30%: the French Vivendi, as in the intentions announced in a press release last Friday, it rose to 20% of Mediaset, thus becoming the second shareholder after the Berlusconi family, which through Fininvest further rose to over 38%, buying another 3,5% today but running out of purchases feasible in the twelve months (5% according to the rules) without triggering the takeover obligation.
The Minister of Economic Development Carlo Calenda also intervened in a note on the matter: "A hostile takeover is not the most appropriate way to proceed to strengthen one's presence in Italy", said the minister, clarifying that the Government "will carefully monitor the evolution of the situation". “Given the absolute respect of the Italian Government for market rules – added Calenda -, it really doesn't seem that what could appear as a completely unexpected attempt at a hostile takeover of one of the largest Italian media groups, is the most appropriate way to proceed to strengthen its presence in Italy". For the minister foreign investments are welcome in Italy but Mediaset operates in "a strategic field" so "the way in which we proceed is not irrelevant. It seems to me that this principle is widely recognized and assertively defended in France”.
Silvio Berlusconi also enters the field in the Mediaset-Vivendi affair e deploys the compact family against Vincent Bolloré, promising that the Fininvest holding "in compliance with the law" will raise its stake again. "The purchase of Mediaset shares by Vivendi, not previously agreed with Fininvest, cannot be considered anything other than a hostile operation", declared the first shareholder of the Alfa Romeo. “As for us – he added – there is the most absolute unity of my family on a very precise point: we have no intention of letting anyone try to downsize our role as entrepreneurs. This is why we have increased our participation and will continue to do so within the limits permitted by law".
Meanwhile, the Milan prosecutor's office has opened a file against unknown persons for market manipulation in relation to the Mediaset-Vivendi affair. The move - according to what transpires from judicial circles - comes after the complaint presented by Fininvest in the light of the takeover of the Stock Exchange by the French group Vivendi on Mediaset. The dossier is in the hands of the deputy prosecutor Fabio De Pasquale, head of the Milanese team that deals with financial crimes.
