Police Raid Paris Headquarters of Media Group Vivendi

By Nick KostovFeaturesDow Jones Newswires

Police raided the Paris headquarters of French media company Vivendi on Thursday in connection with an investigation into alleged market abuse related to its purchase of a stake in Italy's Mediaset last year, a Vivendi spokesman said.

Last December, Vivendi started accumulating Mediaset shares on the open market, eventually spending 1.26 billion euros ($1.5 billion) for an almost 30% stake. Fininvest, the Berlusconi family holding that owns 40% of Mediaset, accused the French group of having previously lowered the value of Mediaset shares to then buy the shares at a cut price.

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Write to Nick Kostov at nick.kostov@wsj.com

(END) Dow Jones Newswires

October 05, 2017 07:36 ET (11:36 GMT)