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

MEDIASET

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Italy, Vivendi seek entente on single network, despite Mediaset tussle: sources

11/25/2020 | 12:48pm EST
FILE PHOTO: Workers are seen installing fiber optic cables in Perugia

ROME (Reuters) - Italy and France's Vivendi are trying to work together on Rome's plan for a national broadband network, easing tensions after the media giant complained about an Italian bill potentially curbing its business in the country, sources said.

The sources said government officials also reassured the French group that Rome will not try to dilute its presence on the board of former phone monopoly Telecom Italia (TIM) when a slate backed by state lender CDP is presented next year.

The slate is expected to be presented by the outgoing board, the two sources close to the matter added.

Italy wants TIM, whose main shareholders are Vivendi and CDP with respective stakes of 24% and 10%, to merge its landline grid with state-backed Open Fiber, paving the way for a single ultra-fast broadband infrastructure.

Given the size of its stake, Vivendi's support could be crucial in approving any decision of an extraordinary nature at TIM's shareholder meeting.

Vivendi is a key player in Italy as it also owns 29% of top commercial broadcaster Mediaset, controlled by the family of former Italian Prime Minister Silvio Berlusconi. The two groups are embroiled in a legal battle stemming from a failed pay TV sale in 2016.

The French group complained to the European Commission this month after Rome presented a draft law that would require Italy's communications watchdog to investigate companies operating in the telecoms and media sectors.

The bill, if approved, would buy Mediaset time in its dispute with Vivendi and sources have said that Vivendi, in retaliation, might oppose Rome's single network plan.

However, Italian Economy Minister Roberto Gualtieri spoke with Vivendi chief Arnaud de Puyfontaine by telephone on Nov 16 to seek clarification and ease tensions.

Representatives of the government and Vivendi then continued talks, sources said.

One of the sources said Vivendi would continue to oppose the draft law, but had agreed to talks over cooperation in the single network project and TIM's board renewal.

The Treasury, TIM and Vivendi all declined to comment.

A meeting between Gualtieri and French Finance Minister Bruno Le Maire is scheduled for Thursday morning in Rome.

(Editing by Gavin Jones; Editing by Kirsten Donovan)

By Giuseppe Fonte and Elvira Pollina


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
MEDIASET 1.44% 2.116 Delayed Quote.0.00%
TELECOM ITALIA S.P.A. -0.36% 0.3645 Delayed Quote.-3.07%
VIVENDI SE -0.68% 26.13 Real-time Quote.-0.27%
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Financials
Sales 2020 2 557 M 3 094 M 3 094 M
Net income 2020 121 M 146 M 146 M
Net Debt 2020 1 189 M 1 439 M 1 439 M
P/E ratio 2020 20,8x
Yield 2020 0,92%
Capitalization 2 370 M 2 882 M 2 868 M
EV / Sales 2020 1,39x
EV / Sales 2021 1,25x
Nbr of Employees 5 004
Free-Float 23,4%
Chart MEDIASET
Duration : Period :
Mediaset Technical Analysis Chart | MarketScreener
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Technical analysis trends MEDIASET
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 1,90 €
Last Close Price 2,09 €
Spread / Highest target 15,1%
Spread / Average Target -9,12%
Spread / Lowest Target -56,9%
EPS Revisions
Managers and Directors
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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