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Italy regulator says Vivendi transfers part of Mediaset stake in trust

Reuters

MILAN (Reuters) - Italy's communications authority (AGCOM) said on Wednesday it had been advised by Vivendi (VIV.PA) that the group transferred into a trust 19.19 percent of its total shareholding in private broadcaster Mediaset (MS.MI) on April 6.

Last year, AGCOM asked Vivendi, which also holds a 23.9 percent share in Telecom Italia (TLIT.MI), to reduce its stake in one of the two groups by April 2018 to comply with Italian antitrust regulations.

AGCOM said that as a result of the transfer to the trust called Simon Fiduciaria, Vivendi held voting rights of under 10 percent in Mediaset.

It added that the trust would exercise the rights linked to the shareholding, independently from Vivendi, respecting the rules set out by the regulator.

(Reporting by Giulia Segreti; Editing by Crispian Balmer)