Telecom Italia chair Conti resigns

Fulvio Conti has resigned as Telecom Italia chairman in a move that is seen as potentially smoothing the way for an agreement between the telco’s warring shareholders. Conti, who was aligned with activist investor Elliott Management, has been replaced on an interim basis by senior director Michele Valensise, in a move that was welcomed by […]

Vivendi opens legal challenge to Mediaset’s proposed European mega group

Vivendi is furthering its ongoing dispute with Mediaset in court, following its decision to retain its stake in the broadcaster. The move is designed to disrupt Mediaset, which has just won shareholder approval to create a pan-European media group in an effort to stave off competition from foreign streaming services. Vivendi however also has plans […]

Berenberg: Mediaset investors likely to stick around for MFE deal

Mediaset shareholders are likely to accept conversion of their shares into stakes in the new MediaForEurope (MFE) organisation that will combine Mediaset and Mediaset Espana, even if they chose to retain an option to exercise withdrawal rights that would enable them to cash out before completion, according to analysts at Berenberg. Berenberg’s analysts, who have […]

Telecom Italia chairman Conti may exit

Telecom Italia (TIM) chairman Fulvio Conti is considering resigning after just over a year in the role. Conti on Thursday confirmed a report by Italian daily newspaper La Repubblica that he was considering quitting, citing easing tensions between warring Telecom Italia shareholders Vivendi and Elliott Management. According to a separate report by Reuters, Conti’s resignation could […]

Vivendi piles pressure on Mediaset over MediaForEurope vote

Vivendi is continuing to pile pressure on Mediaset following the approval given by yesterday’s Mediaset shareholders’ meeting that approved the company’s merger with Mediaset España and the creation of new Dutch holding company MediaForEurope. Vivendi, which strongly opposes the merger, said that the resolution green-lighting the project would have been rejected if Simon Fiduciaria, the […]

Vivendi threatens ‘serious litigation’ in wake of Mediaset merger vote

Vivendi has accused Mediaset’s board of “dragging their company into serious litigation” after the Italian media group denied Simon Fiduciaria, the trust that holds the bulk of Mediaset shares purchased by Vivendi, the right to vote in a crucial shareholders meeting. Mediaset’s decision to bar Simon Fiduciaria from attending yesterday’s EGM ensured that its plan […]

Mediaset secures green light from shareholders for Europe plan

Mediaset has secured a green light from shareholders for its creation of a new holding company, MediaForEurope, and its merger with Mediaset España.  Seventy-eight per cent of shareholders present approved the proposal, with 21% opposing. The majority easily surpassed the two thirds required for approval of the deal. The merger was strongly opposed by Mediaset […]

Vivendi files complaint against Mediaset with regulator

Vivendi has opened a new front in its war with Mediaset by filing a complaint against the Italian media group with regulator CONSOB over Mediaset’s communication of the ruling of the Court of Milan in relation to the voting rights of Simon Fiducaria, the trust in which Vivendi has deposited the majority of its Mediaset […]

Vivendi secures right to vote in MediaForEurope battle with Mediaset

Vivendi has secured a victory in its battle to secure representation of its views on Mediaset’s plans for a pan-European holding company and merger with Mediaset España at a forthcoming shareholder vote. However, Simon Fiduciaria, the trust in which the bulk of Vivendi’s shares are held to comply with Italian media law, will not be […]

Mediaset unveils voting share allocation for MediaForEurope

Mediaset has announced the proportion of special voting shares that will be allocated to its shareholders Fininvest – the vehicle of the Berlusconi family – and Vivendi under the terms of the planned merger between Mediaset and Mediaset España within a new Netherlands-based holding company, MediaForEurope. Under the terms of the proposed merger agreement, special […]