Italy's court rules in favor of Vivendi in Mediaset restructuring row [Reuters]
VIVENDI SE UNSP/ADR (VIVHY)
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Source: Reuters
Italy's court rules in favor of Vivendi in Mediaset restructuring row - Reuters 2 Min Read MILAN (Reuters) - An Italian court ruled in favor of a petition filed by French media giant Vivendi ( VIV.PA ) to vote against Mediaset’s ( MS.MI ) reorganization plan, the two companies said on Saturday, although the decision was not enough to scupper the deal. Vivendi has been a hostile Mediaset shareholder since the tycoons who control them, Vincent Bollore and former Italian Prime Minister Silvio Berlusconi, fell out in 2016 over an aborted pay TV deal. They have been in a legal war ever since. Vivendi said it wanted to vote against Mediaset’s plan because a bylaw of the new group’s structure would exclude it from voting at shareholder meetings. The ruling only applies to the 9.6% stake Vivendi directly holds in Mediaset, as two-thirds of the French group’s 29% total stake is currently held by an arms-length trust called Simon Fiduciaria, which has so far been barred from voting by an It
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