The Court of Milan has postponed a hearing on Vivendi’s dispute with Mediaset over the latter’s plans to create a Netherlands-based pan-European broadcast organisation combining its Spanish and Italian arms as the pair enter into talks to find a solution.
Mediaset said that the court had postponed the next hearing to November 22 to allow the warring parties to assess wither a reconciliation is possible.
Mediaset’s request for a delay to see wither a conciliation is possible will see the pair discuss aspects of the governance of the new group, MediaForEurope, to which Vivendi has objected, according to Reuters, citing an unnamed source. The main areas of contention are articles 42 and 43 of the new outfit’s articles of association that determine shareholder obligations and set the mandatory takeover threshold, which Vivendi maintains are intended to cement the Berlusconi family’s control of the new company.
Vivendi effectively blocked Mediaset’s plans by securing a suspension of the merger move in Spain, but has also initiated actions in the Netherlands and Italy.
According to Reuters, Vivendi has asked for guarantees on how the new company’s statute will be applied in practice. Vivendi also wants to keep separate s legal battle over Mediaset Premium, the pay TV arm it was contracted to acquire in 2016 but withdrew from, setting the stage for the last three years of confrontation between the two companies.
ICYMI: Apple’s Rozenfeld departs less than a fortnight after Apple TV+ launch digitaltveurope.com/2019/11/12/app… https://t.co/Igf9UhN2GL
12th November 2019