Mediaset Withdraws MediaForEurope Merger Plan Filing to Avoid Vivendi Action
March 04 2020 - 3:57AM
Dow Jones News
By Mauro Orru
Mediaset SpA said late on Tuesday that it has decided to
withdraw the filing of its merger plan for MediaForEurope, its
planned pan-European media holding company, from the Dutch Chamber
of Commerce after Vivendi SA threatened new legal action in the
Netherlands.
The Italian broadcaster filed its merger plan to the Dutch
Chamber of Commerce on Feb. 5, a plan which according to Vivendi's
counsel would contain a new supplement which wasn't made available
to shareholders of Mediaset SpA and Mediaset Espana Comunicacion
SA.
Mediaset said it decided to withdraw the filing to avoid any
pretext for more legal proceedings, adding that it would work with
relevant authorities to move forward with a new filing.
Mediaset wants to merge its Italian and Spanish operations to
create MediaForEurope as a Dutch holding company, a plan which
shareholder Vivendi opposes as it believes the merger "disregards
basic shareholders' rights."
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
March 04, 2020 04:42 ET (09:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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