Music Business Worldwide
December 14, 2020
Arnaud de Puyfontaine, CEO, Vivendi
Vivendi has issued a statement formally denying any wrongdoing following Saturday’s (December 12) news that CEO Arnaud De Puyfontaine and ex-Chairman Vincent Bollore have been indicted by prosecutors in Italy.
The reported action by the Italian authorities has been taken over a case alleging market manipulation related to the company’s decision to pull out of a deal with Italian media company Mediaset in 2016.
Universal Music Group‘s parent company agreed to buy an 89% stake in Mediaset’s Pay TV business Mediaset Premium in April 2016, but pulled out of the deal in July that year, citing amongst other things, an “over-optimistic” business plan.
Vivendi Formally Denies Any Wrongdoing Regarding the Mediaset Affair
Regulatory News:
Following the rumours in the Italian press this morning regarding the conclusion of the investigation by the Milan prosecutors in the Vivendi-Mediaset affair (which was prompted by a complaint by Mr. Silvio Berlusconi s holding company Fininvest), Vivendi (Paris:VIV) is shocked that a confidential document, intended for the protection of the individuals under investigation, was made public as soon as it was notified to their attorneys, also misrepresenting its contents.
The timing of this leak improperly influences the course of ongoing judicial disputes between private parties and tarnishes the image of the individuals concerned, to whom Vivendi will continue to provide its full support.
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