Vivendi Takes Legal Action in Light of Mediaset Merger Plans -- Update

Date : 09/24/2019 @ 8:26AM
Source : Dow Jones News
Stock : Mediaset Spa (MS)
Quote : 2.72  -0.047 (-1.70%) @ 4:35PM
Mediaset share price Chart

Vivendi Takes Legal Action in Light of Mediaset Merger Plans -- Update

Mediaset (BIT:MS)
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-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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