Italian regulator Agcom said it is still investigating Vivendi's acquisition of a stake in broadcaster Mediaset. The communications regulator started the investigation on 21 December after Vivendi accumulated a nearly 30 percent stake and Mediaset accused the French company of pursuing a hostile takeover. Agcom said its investigation would take up to 120 days and could be extended by another 60 days if necessary.
Its statement follows a report in La Repubblica that Agcom's preliminary conclusion was that a takeover of Mediaset by Vivendi could be illegal. As a result of Vivendi's existing stake in Telecom Italia, a combination of the two companies would exceed legal market share limits in the communications sector. Vivendi could also be found to be abusing its dominant position and be forced to divest some shares, the report suggested. The paper's sources said that Agcom would only voice its concerns if Vivendi makes a bid for a full takeover of Mediaset.
