In a release, the Berlusconi-controlled company said that Vivendi has turned to the court in an attempt to block the merger between its Italian and Spanish units into a Dutch company called MediaForEurope.
The Amsterdam court is scheduled to make a decision on February 10.
Vivendi, the second largest shareholder in Mediaset, has long maintained that the plan would serve only to strengthen the grip of the family on the company.
The news comes shortly after an explosive EGM where Vivendi accused Mediaset of an “unlawful refusal” to allow a key shareholder to vote. The company also said the Mediaset board has placed the company in “a situation of serious legal uncertainty” after ignoring an opinion on the case from the EU Court of Justice’s advocate general.
The shareholders meeting called on Friday approved some modifications in the articles of association of MediaForEurope, the holding company Mediaset wants to create to house its merged Italian and Spanish operations, to which Vivendi has strongly objected.
Mediaset said the EGM votes cleared the way for the creation of the new pan-European group “with a leadership position in its reference markets” and the scale to potential extend its reach to other European markets, with a specific reference to the company’s investment in German broadcaster ProSiebenSat.1, in which it now owns a 15.1% stake.
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23 October 2020 @ 09:29:38 UTC