0
Video

Spanish court suspends Mediaset's pan-European plan

Friday 11 October 2019 | 15:04 CET | News
A Madrid commercial court has temporarily suspended Italian broadcaster Mediaset’s plan to merge its domestic and Spanish business into a Netherlands-based holding company following a legal challenge by shareholder Vivendi. The French company objected to the extraordinary meeting of Mediaset Spain’s shareholders held last month to approve the creation of Media for Europe (MFE) on grounds that the new governance structure is designed to favour the broadcaster’s biggest shareholder, the Fininvest investment vehicle of the Berlusconi family.

In a statement to Spain’s securities market regulator CNMV, Mediaset’s Spanish subsidiary said it “strongly disagreed” with the interim ruling to suspend the decision taken at the shareholders' meeting pending a final judgment, and would immediately appeal to a higher court. “The reasons supporting Mediaset Espana are, in the view of the company, very solid and endorse the legal, economic and business rationale of the challenged corporate resolutions," it added.

Vivendi owns around 29 percent of Mediaset, compared to Fininvest’s 44 percent, and is strongly opposed to the broadcaster's corporate overhaul, having pledged to “use any legal recourse in all relevant jurisdictions and countries to challenge the legality of the proposed new structure, both under national and European laws.” 

The French company has also launched legal proceedings in the Netherlands, where a court hearing is scheduled to be held on 16 October.


 



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Broadcast & Satellite
Companies: Mediaset / Vivendi
Countries: Italy / Netherlands / Spain
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Vivendi files Italian court action against Mediaset merger plan

Published 16 Oct 2019 09:12 CET | Italy
Vivendi has filed a court action in Italy requesting the suspension of Mediaset's plans to merge its Italian and Spanish units ...

Last week in media: corporate action at AT&T, Mediaset and Lions Gate, profit warning from Publicis

Published 14 Oct 2019 07:02 CET | World
AT&T enjoyed a solid opening weekend for its much anticipated Joker movie. Sony is prepping the launch of its PlayStation 5 ...

Mediaset profit and net debt rise in H1

Published 01 Oct 2019 09:54 CET | Italy
Italian broadcaster Mediaset reported a net profit of EUR 108.9 million in the first 6 months of the year, up 155 percent year on ...

Vivendi files Spanish and Dutch court actions against Mediaset merger

Published 24 Sep 2019 10:15 CET | Italy
Vivendi has filed court actions in Spain and the Netherlands against Mediaset's plans to merge its Italian and Spanish units into ...

Vivendi preparing Dutch and Spanish legal action against Mediaset - report

Published 23 Sep 2019 09:42 CET | Italy
Vivendi is set to broaden its legal challenge against broadcaster Mediaset beyond Italy's borders, according to two unnamed ...

Mediaset inks deal to sell 355 mln shares of new MFE holding

Published 20 Sep 2019 09:51 CET | Italy
Italian broadcaster Mediaset announced an agreement to sell up to 355 million shares of its newly-created Media for Europe (MFE) ...

Mediaset to acquire up to EUR 50 mln of Mediaset Spain shares, rejects Vivendi legal claims

Published 05 Sep 2019 09:56 CET | Spain
The board of Italian broadcaster Mediaset has approved the acquisition of Mediaset Spain shares worth up to EUR 50 million to ...

Mediaset shareholders approve European merger plan, Vivendi to launch court action

Published 04 Sep 2019 15:45 CET | Italy
Italian broadcaster Mediaset announced that its shareholders approved the company's plan to set up a pan-European media group ...

Mediaset accuses Vivendi of discrediting Dutch holding company plan

Published 22 Aug 2019 15:57 CET | Italy
Mediaset has filed a complaint with Italy's market regulator Consob accusing shareholder Vivendi of leaking information with a ...

Mediaset looks to organise broadcasters into European streaming service

Published 15 Jul 2019 13:37 CET | Europe
Italian broadcaster Mediaset is setting up a new company based in Amsterdam called Media for Europe that is expected to lead the ...

Vivendi asks Mediaset to revoke new loyalty share scheme

Published 03 Jul 2019 09:26 CET | Italy
Italian broadcaster Mediaset announced that it has received a request from hostile shareholder Vivendi to call a new ...

Mediaset to merge Italy and Spain units into Netherlands-based holding company

Published 10 Jun 2019 09:09 CET | Italy
Italian commercial broadcaster Mediaset has announced the creation of a new Netherlands-based holding company and confirmed its ...





Calendar   /   Industry Events

17 Oct Elisa Q3 2019
17 Oct Ericsson Q3 2019, Investors day
17 Oct Telia Q3 2019
17 Oct Central European Media Q3 2019
17 Oct Tele2 Q3 2019
18 Oct Digi Q3 2019
21 Oct Logitech fiscal Q2
21 Oct Brand Marketing and Digital Summit
22 Oct DNA Q3 2019
22 Oct Grameenphone Q3 2019
22 Oct Calix Q3 2019
22 Oct Snap Q3 2019
22 Oct MWC Los Angeles 2019
23 Oct AT&T Q3 2019
23 Oct Rogers Communications Q3 2019
23 Oct Telenor Q3 2019
23 Oct Microsoft fiscal Q1
23 Oct Millicom Q3 2019
23 Oct Netgear Q3 2019
23 Oct Annual Customer Service Summit
24 Oct Nokia Q3 2019
24 Oct Comcast Q3 2019
24 Oct Juniper Networks Q3 2019
24 Oct Maxlinear Q3 2019
24 Oct Verisign Q3 2019
24 Oct STMicroelectronics Q3 2019
24 Oct HKBN fiscal FY
24 Oct Nordic Entertainment Q3 2019
24 Oct Amazon Q3 2019
24 Oct Televisa Q3 2019
::: More Calendar Items