PARIS/MILAN France's Vivendi said on Tuesday it would consider submitting a formal complaint to the European Commission after an Italian regulator summoned the media giant to reduce its investment in Mediaset or Telecom Italia
The group, led by French billionaire Vincent Bollore, said it would also consider filing an appeal to a regional administrative court in Italy, it said in a statement.
"Vivendi has always operated within Italian law, and specifically the Gasparri Law regarding the protection of media pluralism from the creation of dominant positions," the group said.
"(...)Vivendi neither controls nor exercises a dominant influence on Mediaset which is controlled on an exclusive basis by Fininvest with a stake close to 40 percent," it added.
Italy's communications authority (AGCOM) said late on Tuesday that Vivendi had one year to cut its stake in either Telecom Italia or broadcaster Mediaset to comply with Italian antitrust regulations.
(Reporting by Mathieu Rosemain in Paris and Giulia Segreti in Milan; Editing by Bate Felix)