TALK OF HOSTILE TAKEOVER
French mogul hunts Berlusconi’s Mediaset
Milan/Paris — French tycoon Vincent Bollore has raised the stakes in a battle of nerves with Silvio Berlusconi’s Mediaset by saying Vivendi could buy up to a fifth of the Italian broadcaster, stirring talk of a hostile takeover bid. Vivendi, led by chairman and biggest shareholder Bollore, owns 3% of Mediaset and has said it could raise that to 10% to 20% "to begin with", as part of the French group’s strategy to expand into southern Europe. Bollore’s move has deepened a feud that began in July when the French company ditched an agreement to take control of Mediaset’s pay-TV unit, Premium, and give the two companies shareholdings in each other. Instead, the two groups are facing off in court, with a first hearing due in March. A source close to the matter said a hostile takeover by Vivendi was not on the agenda "today", but the French group wanted to strengthen its position to reopen discussions with the Berlusconi family. "Vivendi prefers to go with a soft approach for now but if t...
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