Vivendi has filed a new court action against Mediaset’s planned pan-European broadcaster, Media for Europe.
In a statement to securities markets regulator CNMV, Mediaset Spain confirmed that Vivendi has launched legal proceedings against changes to the merger plan adopted at a February shareholder meeting.
According to Mediaset’s statement, Vivendi is calling for a suspension of the merger which will be heard on 22nd July.
Vivendi owns a 28.8 per cent stake in Mediaset and is arguing that the planned merger of its Italian and Spanish units favours the Fininvest investment company, owned by the Berlusconi family.
The French company and its Simon Fiduciaria trust hold 9.6 per cent and 19.2 per cent stakes in Mediaset respectively, but the broadcaster last year excluded Simon Fiduciaria from voting at several shareholder meetings, including those held to approve plans to set up MFE.
The row between the two broadcasters has been on-going for months, with no sign of an agreement being reached.
