Vivendi (Paris:VIV) has repeatedly stated that, up until now, it remained open to discussions in its dispute with Mediaset and has continuously sought alternative solutions over the past several months.
The only response to Vivendi's constructive approach was for Mediaset and Fininvest to issue aggressive public statements and to initiate multiple legal actions, including a new action intended to intimidate Vivendi filed on October 12, 2016, requesting a sequestration against 3.5% of Vivendi's share capital.
Furthermore, Vivendi reaffirms that the Mediaset Premium business plan that it received, which forecasts a break-even point in 2018, is based on unrealistic assumptions, as pointed out by the Deloitte auditors' due diligence report. Therefore, the Vivendi Group cannot be held responsible for the current situation.
In these circumstances, as of today Vivendi is no longer willing to give priority to finding an amicable solution and reserves the right to take all necessary action to defend its interests and those of its shareholders.
Vivendi is an integrated media and content group. The company operates businesses throughout the media value chain, from talent discovery to the creation, production and distribution of content. The main subsidiaries of Vivendi comprise Canal+ Group and Universal Music Group. Canal+ is the leading pay-TV operator in France, and also serves markets in Africa, Poland and Vietnam. Canal+ operations include Studiocanal, a leading European player in production, sales and distribution of film and TV series. Universal Music Group is the world leader in recorded music, music publishing and merchandising, with more than 50 labels covering all genres. A separate division, Vivendi Village, brings together Vivendi Ticketing (ticketing in the UK, the U.S and France), MyBestPro (experts counseling), Watchever (subscription video-on-demand), Radionomy (digital radio), Olympia Production, the L'Olympia and the Theâtre de L'Oeuvre venues in Paris and the CanalOlympia venues in Africa. With 3.5 billion videos viewed each month, Dailymotion is one of the biggest video content aggregation and distribution platforms in the world. Gameloft is a worldwide leading video games on mobile, with 2 million games downloaded per day.