Vivendi, of France, is to sell its 29% stake in Italian TV company Mediaset in resolution of a legal wrangle following the collapse of a pay TV deal between the two companies. The sale will be gradual across a five-year period, conditional on the prevailing share price at the time. The two companies had planned a pan-European competitor to the US streaming giants but fell out, with Vivendi accusing Mediaset of inflating its results. Both companies are reportedly bidding for M6, the French TV company being sold by RTL Group.
Vivendi sells out of Mediaset TV
