Mediaset Notified of Vivendi's Preliminary Injunction Request
October 15 2019 - 12:20PM
Dow Jones News
By Giulia Petroni
Mediaset Spa (MS.MI) said Tuesday it was notified of a
preliminary injunction requested by Vivendi SA (VIV.FR) in Italy to
suspend merger plans with its subsidiary Mediaset Espana
Comunicacion SA (TL5.MC), pending court judgments.
The Italian broadcast company said Vivendi requested the Court
of Milan to issue a preliminary suspension of the plan to create a
Dutch holding company called Media for Europe NV, or MFE, until the
European Court of Justice and Italy's regional administrative court
issue a final judgment on the matter. A hearing is scheduled for
Oct. 30.
Last week, a court in Madrid temporarily halted the merger of
the Italian and Spanish broadcasters after Vivendi pledged legal
action arguing the strategy "disregards basic shareholders' rights"
and would only benefit Mediaset's majority shareholder
Fininvest.
The French company has withdrawn a preliminary judicial claim
filed to the Court of Amsterdam, according to Mediaset.
In a separate statement last week, Mediaset said also Simon
Fiduciaria Spa--which holds parts of Vivendi's shares in
Mediaset--issued a writ to suspend the merger plan.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 15, 2019 12:05 ET (16:05 GMT)
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