Police Raid Paris Headquarters of Media Group Vivendi
October 05 2017 - 7:51AM
Dow Jones News
By Nick Kostov
PARIS--Police raided the Paris headquarters of French media
company Vivendi on Thursday in connection with an investigation
into alleged market abuse related to its purchase of a stake in
Italy's Mediaset last year, a Vivendi spokesman said.
Last December, Vivendi started accumulating Mediaset shares on
the open market, eventually spending 1.26 billion euros ($1.5
billion) for an almost 30% stake. Fininvest, the Berlusconi family
holding that owns 40% of Mediaset, accused the French group of
having previously lowered the value of Mediaset shares to then buy
the shares at a cut price.
Write to Nick Kostov at nick.kostov@wsj.com
(END) Dow Jones Newswires
October 05, 2017 07:36 ET (11:36 GMT)
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