Vivendi Takes Legal Action in Light of Mediaset Merger Plans -- Update
September 24 2019 - 4:26AM
Dow Jones News
-Adds Vivendi confirmation and comment
By Kim Richters
Italy's Mediaset SpA (MS.MI) said late Monday that shareholder
Vivendi SA (VIV.FR) has taken legal action regarding Mediaset's
merger with its Spanish business.
Vivendi, Mediaset's second largest shareholder, opposes the
planned merger of the Italian media company with Mediaset Espana
Comunicacion SA (TL5.MC) to create a Dutch holding company called
MFE-Mediaforeurope NV.
According to Mediaset, Vivendi has brought a court proceeding in
relation to a shareholder meeting of the Spanish entity early
September that approved the merger plan.
The company also said that Vivendi started legal proceedings in
the Netherlands to prohibit the Dutch holding company from
introducing certain provisions, including one concerning special
voting shares.
Vivendi confirmed the legal action against Mediaset, adding that
the company will "use any legal recourse in all relevant
jurisdictions and countries" to challenge the merger approval and
the new company structure.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
September 24, 2019 04:11 ET (08:11 GMT)
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