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Vivendi buying a stake in Mediaset a hostile move - source
December 12, 2016 / 8:30 PM / a year ago

Vivendi buying a stake in Mediaset a hostile move - source

MILAN (Reuters) - Vivendi’s (VIV.PA) announcement that it could buy as much as 20 percent of Mediaset (MS.MI) after purchasing just over 3 percent was seen by the Italian broadcaster as a hostile move, a source close to Mediaset told Reuters.

    The person said Mediaset had not been informed of Vivendi’s intentions and only found out about them from the statement issued by the French media company on Monday.

    In the statement, Vivendi said it was targeting a 20 percent stake in the Italian group as part of its efforts to expand into southern Europe.

    Reporting by Stephen Jewkes; writing by Agnieszka Flak; editing by Silvia Aloisi and David Clarke

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