Following its Spanish court victory at the end of last week, Vivendi this week followed up by withdrawing the complaint it filed against Mediaset in the Netherlands and concentrate on its other legal moves against the Italian broadcaster.
The Spanish ruling effectively put Mediaset’s plans to create a new Dutch-based holding company on ice. Vivendi, a major shareholder in Mediaset, has adamantly opposed the agreement which it says has been constructed only to further the interests of the Berlusconi family’s investment vehicle, Fininvest.
Mediaset said on Tuesday that it had received notice of an appeal by Vivendi at the Court of Milan calling on the latter to suspend its decision to allow the execution of a resolution taken at the Mediaset EGM at the beginning of September.
Vivendi has called on the court to suspend the resolutions taken at the September meeting at least until pending judgements are submitted to the European Court of Justice and the Lazio TAR tribunal.
Vivendi has also called on the court to adopt measures to protect its position and prevent Mediaset from doing anything that could prevent Vivendi from participating in votes connected with the shares its holds.
The court will hear the case on October 30, simultaneously ruling on Simon Fiduciaria’s appeal against Mediaset’s prevention of it taking part in the last shareholders’ gathering.
The commercial court in Madrid on Friday suspended the decisions taken at the Mediaset España extraordinary shareholders’ meeting on September 4, in which Mediaset Espana shareholders voted to approve the transaction to create MediaForEurope. .
Mediaset España said it “deeply disagrees with this preliminary ruling” and promised to appeal.
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21st November 2019