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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Mediaset    MS   IT0001063210

MEDIASET

(MS)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 02/26 02:31:43 am
2.128 EUR   -1.39%
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Timeline - Mediaset vs Vivendi: a TV courtroom drama unfolds

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01/10/2020 | 05:12am EST

Italy's biggest commercial broadcaster Mediaset holds a shareholder meeting on Friday over governance changes needed to enable a pan-European expansion plan, which its second-largest investor Vivendi is fighting in court.

Following are key events in the prolonged dispute:

April 2016 - Vivendi agrees to buy Mediaset's pay-TV business, billed as a major step in billionaire businessman Vincent Bollore's plan to build a southern European content and video-on-demand powerhouse. The two companies agree to take a 3.5% stake in each other.

July 2016 - Vivendi backs away from the original deal, proposing an alternative that would give it a bigger direct stake in the broadcaster.

Vivendi says the main reason is the unreliability of Mediaset Premium's financial forecasts for 2016 to 2018.

The deal falls apart as Mediaset rejects Vivendi's new proposal and announces legal action against the French group.

Dec. 2016 - Vivendi builds up a 28.8% stake in Mediaset in a move condemned by the Italian broadcaster.

April 2017 - Italy's communications watchdog orders Vivendi, which is also the top shareholder in Telecom Italia, to cut its stake in either the telecoms group or Mediaset within a year to comply with rules designed to prevent a concentration of power.

April 2018 - Vivendi transfers a 19.19 percent Mediaset shareholding to a trust to comply with the regulator's ruling.

The legal battle continues on multiple fronts, including a 3 billion euro damages request by Mediaset over the failed pay-TV deal and repeated complaints by Vivendi about not being allowed to exercise its voting rights at Mediaset shareholder meetings.

Sept. 2019 - Mediaset shareholders back a plan to create a pan-European media group under a new Dutch holding, fending off opposition from Vivendi.

Under the plan, both Mediaset and its Spanish unit will be merged into a Dutch holding company MediaForEurope (MFE).

Vivendi, which says the new structure tightens Fininvest's grip, challenges the plan in court in Spain and Italy.

Oct. 2019 - A Spanish court suspends Mediaset's corporate overhaul, ruling in favor of Vivendi. Mediaset appeals.

Nov. 2019 - Mediaset and Vivendi fail to hammer out a deal by a court-imposed deadline to end their legal stand-off.

Dec. 2019 - A Milan court postpones a decision on Vivendi's request to suspend Mediaset's corporate overhaul until Jan. 21 at the earliest, leaving the reorganisation on hold.

(Reporting by Elvira Pollina; Editing by Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
MEDIASET 1.31% 2.158 Delayed Quote.-18.87%
MEDIASET ESPANA COMUNICACION, S.A. 2.31% 4.688 End-of-day quote.-17.17%
TELECOM ITALIA S.P.A. -0.51% 0.5104 Delayed Quote.-8.27%
VIVENDI -0.28% 24.83 Real-time Quote.-3.83%
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Financials (EUR)
Sales 2019 2 955 M
EBIT 2019 380 M
Net income 2019 231 M
Debt 2019 1 198 M
Yield 2019 3,36%
P/E ratio 2019 11,5x
P/E ratio 2020 9,20x
EV / Sales2019 1,24x
EV / Sales2020 1,13x
Capitalization 2 454 M
Chart MEDIASET
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Mediaset Technical Analysis Chart | MarketScreener
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Technical analysis trends MEDIASET
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 2,85  €
Last Close Price 2,16  €
Spread / Highest target 210%
Spread / Average Target 31,9%
Spread / Lowest Target -25,9%
EPS Revisions
Managers
NameTitle
Pier Silvio Berlusconi Deputy Chairman & Chief Executive Officer
Fedele Confalonieri Chairman
Simone Sole Head-Finance & Administration
Marco Giordani Chief Financial Officer & Director
Marina Berlusconi Non-Executive Director
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