Mediaset CEO Pier Silvio
Berlusconi on Thursday said French media company Vivendi caused
the Italian broadcaster "very serious damage" after Vivendi
pulled out of a deal to buy Mediaset Premium.
"Still today we don't completely understand the reasons for
their refusal," he said.
"The European pay-TV platform was our idea and we're still
working in it, if needed also with other partners".
On October 20 shares in former premier Silvio Berlusconi's
Mediaset group fell 6% on the Milan bourse after the breakdown
of talks aimed at reaching an out-of-court settlement to a
dispute over Vivendi's pulling out of a deal to buy Premium.
The issue will now have to be settled in court.
The Italian media conglomerate said a conflict with the
French media multinational "will be resolved in court".
"We have had no contact since July," the Italian company
said in a statement.
Vivendi earlier issued a statement saying it will no longer
pursue a "friendly solution" after it backed out of the deal to
purchase Premium.
Vivendi backtracked from the deal to take full control of
Mediaset Premium announced in April, citing "unrealistic" budget
assumptions and sparking lawsuits.
In July, the French firm said Mediaset's business plan
for its Premium pay-TV business was "based on unrealistic
assumptions".
The plan presented by Berlusconi's broadcasting company
said its Premium division would break even in 2018.
The French group said in a statement that due diligence by
Deloitte auditors at the beginning of June deemed the business
plan to be "unachievable".
In August, Berlusconi's family holding company Fininvest
sought 570 million euros in damages from Vivendi over
its alleged failure to respect the April deal.
On September 30, Vivendi CEO Arnaud de Puyfontaine said
talks with Mediaset were ongoing and he was confident an
agreement could be found.
"Perhaps we will find a solution - I am confident," the
chief executive said on his way out of a board meeting in Milan
of Telecom Italia, of which he is vice-president.
ALL RIGHTS RESERVED © Copyright ANSA