Italian broadcaster Mediaset has asked a court in Milan to enforce the sale of its pay-television division, Mediaset Premium, to French media company Vivendi.
In July, Vivendi rejected the terms for the takeover and added that its analysis of the division's financial forecasts differed from those provided by Mediaset.
Under the original deal, Vivendi was set to acquire 100 per cent of Mediaset Premium, with both companies taking a 3.5-per-cent stake in each other. Vivendi made a revised offer to sell a 3.5-per-cent stake in its business in exchange for a 20-per-cent shareholding in Mediaset Premium and a 3.5-per-cent stake in Mediaset, but this was rejected by Mediaset at the end of July.
Mediaset has claimed that it risks losing €1.5bn ($1.7bn) if Vivendi does not honour the original agreement that was struck in April.
Mediaset, one of the leading sports broadcasters in Italy, asked the judge to force Vivendi to fulfil its contract and pay damages of €50m per month, starting from July 25.
“The damages sought concern purely the delay accumulated so far and possible further delays caused by inventive and dilatory proposals of different accords than the one in place,” Mediaset said.