Agcom required Vivendi to reduce its stake in Mediaset and Telecom Italia
19 april 2017
On April 18, 2017, the Italian Regulatory Communication Authority (Agcom) issued resolution no. 178/17/Cons, which stated that French media group Vivendi, infringed article no. 43, par.11 of Italian legislative decree n. 177 of 31 July 2005, titled the Audiovisual Media and Radio Services Consolidation Act, because it has dominant positions in the integrated communication system (ICS), due to the controlling stakes in broadcaster Mediaset and Telecom Italia, the Italian ex incumbent.
According to Agcom, in 2015, Vivendi’s reached revenues in the electronic communication market higher than the 40% share and Sic revenues exceeding the quota of 10%, because of its shares in Mediaset and Telecom Italia. In this regards, Agcom required Vivendi to reduce its stake in either one within 12 months.
In addition, Vivendi has 60 days to submit sale and reduction plan of its shares to Agcom, in order to comply with the Audiovisual Media and Radio Services Consolidation Act.
If Vivendi doesn’t comply with the resolution, it could be sanctioned under article 1, par.31 of Law 249/97 with a fine between 2% and 5% of its revenue.
Avv. Silvia Giampaolo
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