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Stream/Telepiù merger on hold


- Murdoch rejects Vivendi´s demands

The long-awaited merger between Italy´s two pay-TV´s Stream and Tele+ will take place. Only not just yet. Australian tycoon Rupert Murdoch said he would not pay Vivendi Universal the amount they are asking for to give up Tele+, and he failed to convince Telecom´s Marco Tronchetti Provera to play a more significant role in creating Italy´s single digital Pay-Tv platform.
Next on Murdoch´s agenda is reaching a deal with Vivendi by the end of July. During his Roman visit, the founder of the News Corporation also investigated the possibility of Italian investors boarding the project.
Whatever deal is struck will have to be approved by the EU Commission for Fair Competition, headed by Mario Monti. Monti recently declared that News Corporation´s purchase of Tele+ «has European dimensions» and is subject to approval by the EU Antitrust watchdog.

San Sebastian Report
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