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Italian prosecutors ask judge to drop Mediaset case against Vivendi’s Bollore

by Mike Robinson

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© Reuters. FILE PHOTO: French media giant Vivendi’s logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, France, August 12, 2020. REUTERS/Charles Platiau

MILAN (Reuters). Italian prosecutors asked a judge for the dismissal of a case against Vivendi OTC:’s CEO and owner. The charges stem from market manipulation in Italy and obstruction by regulators during stakebuilding in Mediaset in Italy.

Prosecutors investigated claims that Vincent Bollore (billionaire) and Arnaud Del Puyfontaine (CEO) used the prospect – then the collapse -of a deal with Mediaset to buy Mediaset’s pay-TV arm. This was done to bring down shares of the Italian firm and make them affordable in 2016.

After December 2020’s closing of the probe, Vivendi made a statement in which he denied wrongdoing.

Italian prosecutors often ask to dismiss cases because they cannot support the prosecution.

Vivendi’s withdrawal from the TV contract with pay television prompted Mediaset, Broadcaster Mediaset, and Fininvest to file multibillion-euro damages claims. This triggered a legal battle that lasted five years. A settlement was reached earlier in this year.

Fininvest, the holding company for the Silvio Berlusconi family is Fininvest.

According to a judicial source, the request for dismissal was made last week. A judge will then decide whether or not to grant the motion.

Vivendi Mediaset, Fininvest and Mediaset declined to comment.

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