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VIVENDI SET TO GAIN 100% CONTROL OF STREAM.

Tech Europe, February, 2002

Vivendi Universal is set to gain 100% control of the Italian pay-television platform, Stream, which is owned by Rupert Murdoch's News Corporation, it was announced on February 13. News Corporation is due to buy the 50% stake owned by Telecom Italia, its partner in the joint venture, then sell it to Vivendi Universal.

Under the deals signed with Telecom Italia and Vivendi Universal/Canal , Vivendi Universal will be buying up Stream lock, stock and barrel. The deal has yet to get a clean bill of health from the Italian anti-trust authorities. An initial arrangement, under which the Vivendi (Telepiu) and Murdoch/Telecom Italia (Stream) platforms were to have been merged, was rejected by the Italian authorities, which took a dim view of two communication giants...

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