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Vivendi buys Mediaset Premium in share swap deal
2016-04-11 08:21:00| Telecompaper Headlines
(Telecompaper) French media giant Vivendi has reached an agreement to acquire the Mediaset Premium pay-TV business of Italian commercial broadcaster Mediaset as part of a wider deal that will see the two companies taking a 3.5 percent stake in each other. The share-based transaction values Mediaset Premium at EUR 800 million, with Vivendi acquiring Mediaset's 89 percent stake in the unit as well as the remaining 11 percent stake held by Spain's Telefonica. "The agreement with Mediaset confirms Vivendi's intention to build strong positions in Southern Europe, a market that shares a similar Latin culture and roots," said Vivendi in a statement, adding that its acquisition of Mediaset Premium serves to expand its presence in European pay-TV, increasing its global individual subscriber base to over 13 million.
Tags: share
premium
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Category:Telecommunications