France's Vivendi Tables Offer For Majority Stake In Mediaset's Pay-TV Division

Il Corriere della Sera reported that France's Vivendi "tabled an offer for a majority stake in the pay TV unit of Mediaset," according to Stephen Jewkes of REUTERS. The offer "has been on the table of the Italian broadcaster's CEO for several days, the newspaper said without citing sources." Vivendi "wants to fund the acquisition of the stake in Mediaset Premium in cash and shares as part of plans to create the biggest media play in southern Europe." But disagreement over price "has slowed down hopes of a quick deal, the paper added." A Mediaset spokesperson on Saturday said that "the company was not in talks with Vivendi and that there was nothing new to report." Vivendi, controlled by tycoon Vincent Bollore, "streamlined its business to focus on music, content and pay television" and is sitting on a €6.4B ($7.12B) cash pile (REUTERS, 2/20).