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Mediaset seeks court enforcement of contract with Vivendi

Published 19/08/2016, 17:41
© Reuters. The Mediaset tower is seen in Cologno Monzese neighbourhood Milan
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MILAN (Reuters) - Italian broadcaster Mediaset (MI:MS) said on Friday it had asked a Milan court to enforce a contract to sell its pay-TV arm to French media group Vivendi (PA:VIV), adding it would risk losing 1.5 billion euros (1.3 billion pounds) if the previously-agreed deal fell through.

Mediaset, which is controlled by the family of former Prime Minister Silvio Berlusconi, said it had only asked so far for damages relating to the delay in executing the contract.

To cover losses relating to the delay, it has asked for 50 million euros per month starting from July 25.

© Reuters. The Mediaset tower is seen in Cologno Monzese neighbourhood Milan

Vivendi rejected the terms agreed in April for its purchase of the Italian group's pay-TV arm, saying there were differences with Mediaset in the analysis of the unit's financial forecasts.

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