• Empresas.Mediaset España and its parent company in Italy merge to create a holding company in the Netherlands

The Board of Shareholders of Mediaset Italia has approved to merge with Mediaset España and create a new parent company based in the Netherlands and denominated MFE-Media For Europe, to follow a pan-European growth strategy.

Previously, the Mediaset Italia Board of Directors has decided that Simon Fiduciaria, Vivendi Trust, cannot vote for this merger, which is also voted in Madrid. Consequently, he has denied the delegate of Simon Fiduciaria access to the meeting.

As the company added in a statement, the Board of Directors does not oppose Vivendi's request to exercise his right to vote with his direct votes (9.99%) and allows his delegate to have access to the minutes of the meeting .

The company notes that it has taken note of both letters sent by both companies, as well as the judicial decision of a court in Milan, on August 30, and has made the decision after also evaluating contracts and different procedures in progress. In any case, Mediaset reserves the right to exercise its rights against the decision taken by the courts last Saturday.

After the veto on Simon Fiduciaria, Vivendi has labeled the Extraordinary Shareholders Meeting of Mediaset as "illegal" because he considers that his rejection is based on an interpretation of the Italian media law and that, in his opinion, contravenes the community norm.

Vivendi will resort

"Mediaset does not take into account the rights and principles of the most basic shareholders of corporate governance with the sole objective of favoring Fininvest, without even recognizing a premium for minorities. An increasing number of shareholders and investors question the merits of the proposed transaction, "he said in a statement. In addition, he adds that he will use the legal means available to him in the countries that are relevant to question the proposed legality and structure.

A Milan court recognized Vivendi's right to attend and vote at the extraordinary shareholders meeting of Mediaset last Saturday.

Vivendi, which has voting rights for a value of 9.99%, after the transfer of its remaining shares (19.19%) to the Simon Fiduciari trust, filed an appeal on Monday, August 26, following the decision of the Board of Directors Mediaset's refusal to allow the French conglomerate to vote at the Mediaset shareholders meeting scheduled for Wednesday, September 4.

"During the meeting, Vivendi intends to vote against the proposed merger of Mediaset in Media for Europe NV (MFE). This is because the Group has assessed the rights, or lack thereof, that minority shareholders , and particularly Vivendi, they would have under the proposal of MFE Statutes, "Vivendi said in a statement.

For its part, Mediaset also filed a complaint the week before the Italian market regulator accusing Vivendi of leaking information in order to ruin his corporate restructuring plans.

According to the criteria of The Trust Project

Know more

  • media
  • TV
  • Mediaset

Valencian Community The other victims of the delays: the heirs of the dependents

TelevisionA Milan court authorizes Vivendi to vote against the merger of Mediaset at Wednesday's meeting

40 years old Italian presenter Nadia Toffa dies