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Italy considering new rules to increase corporate bidder transparency -minister
January 18, 2017 / 2:37 PM / in 10 months

Italy considering new rules to increase corporate bidder transparency -minister

ROME, Jan 18 (Reuters) - In the wake of concerted stake-building by France’s Vivendi into broadcaster Mediaset, Italy is considering increasing transparency requirements for corporate bids, a government minister said on Wednesday.

“The government is considering whether to introduce a rule to increase transparency obligations for the bidder, and is looking at norms in place in other countries,” said Anna Finocchiaro, the minister for relations with parliament.

Vivendi is now the second largest shareholder in the Milanese TV group, with a stake of 28.8 percent, just below the 30 percent stake at which a full bid for the TV group would be required. The French group is also the top shareholder in phone incumbent Telecom Italia, with a 24.9 percent stake. (Reporting by Antonella Cinelli, Editing by Crispian Balmer)

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