Following a strategic deal (please refer to our 11 April 2016 Latest), Mediaset’s Italian pay-TV operations (88.9% stake in Mediaset Premium) were due to be sold to Vivendi in exchange for a 3.5% stake in the French group (deal initially expected to be completed by end-September 2016). On 25 July 2016, Vivendi officially made an alternative proposal, confirming the exchange of 3.5% of Vivendi’s share capital with 3.5% of the share capital of Mediaset but proposing to buy only 20%
