French media conglomerate Vivendi and Italian companies Mediaset and Fininvest have agreed to end their dispute, mutually waiving all pending lawsuits and complaints. Vivendi confirmed the news via a press release, in which the company also announced the selling of its stake in Mediaset as part of the settlement.
In detail, Fininvest acquired 5.0% of the share capital of Mediaset held directly by Vivendi, at a price of €2.70 per share (taking into account the ex-dividend date and the dividend payment, which took place on July 19 and July 21, 2021, respectively).
“It is recalled that, as part of their agreements, Vivendi has undertaken to sell on the market progressively the entire 19.19% stake in Mediaset held by Simon Fiduciaria over a period of five years. Fininvest will have the right to purchase any unsold shares in each 12-month period, at the established annual price,” the company confirmed.
Following its withdrawal from the agreement to buy Mediaset Premium in 2016, Vivendi acquired a large stake in the Italian outfit, leading to accusations of market manipulation on the part of Mediaset, and actions in the courts and with regulators to overturn the acquisition. Later, the dispute centred on Mediaset’s plans to merge with Mediaset España and create a new Dutch-registered international media company, plans that were frustrated by Vivendi’s intervention.