Vivendi Launches Legal Action to Block Creation of a Mediaset Dutch Subsidiary
13 Janvier 2020 - 6:28PM
Dow Jones News
By Mauro Orru
Mediaset SpA (MS.MI) said on Monday that Vivendi SA (VIV.FR)
launched a legal proceeding in the Netherlands to stop the creation
of MediaForEurope, Mediaset's planned pan-European media and
entertainment holding company.
The Italian broadcasting company said Vivendi is seeking an
injunction on the planned merger between Mediaset's Italian and
Spanish operations to create Mediaset Investment NV, a Dutch
holding, which Mediaset will rename MediaForEurope.
A hearing will take place on Feb. 10 at a court in Amsterdam,
Mediaset said.
The announcement comes just days after Mediaset shareholders
backed amendments to the articles of association of MediaForEurope
as well as terms and conditions for special voting shares to be
issued for the planned merger.
Mediaset had barred Simon Fiduciaria--an asset trust which holds
a 19.9% stake in Mediaset on behalf of Vivendi--from exercising its
voting rights at the meeting.
The French company said Friday that "the new plan has only
gained approval because of the unlawful refusal to allow Simon
Fiduciaria to vote."
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
January 13, 2020 12:13 ET (17:13 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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