Vivendi Ups Mediaset Stake

PARIS: Vivendi says it now owns 20 percent of Mediaset’s share capital, just two days after announcing it had picked up a 3-percent stake in the company.

Earlier this week, Vivendi said it had bought 3.01 percent of Mediaset’s share capital and was looking to increase that to up to 20 percent to become its second-largest institutional shareholder. The move prompted Mediaset to issue a statement calling the investment the beginnings of a hostile takeover attempt.

Vivendi issued a brief statement today announcing it had reached the 20-percent mark in Mediaset’s share capital. Fininvest has also increased its holding, now owning 39.8 percent. It has not yet reacted to Vivendi’s latest investment.