Mediaset Board Lets Vivendi Vote at EGM, Bars Simon Fiduciaria

   By Pietro Lombardi 
 

Mediaset SpA (MS.MI) said that its board decided not to oppose Vivendi SA's (VIV.FR) request to take part in Wednesday's extraordinary shareholders' meeting of the Italian broadcaster but prevented Simon Fiduciaria from voting.

The extraordinary shareholders meeting will vote on the proposed merger between Mediaset and Mediaset Espana Comunicacion SA (TL5.MC) and the formation of Dutch holding company Media for Europe NV (MFE).

Vivendi, which has previously said it would vote against the merger plan, said it deplores the decision taken by Mediaset to prevent Simon Fiduciaria from voting.

"Mediaset is disregarding the most basic shareholder rights and principles of corporate governance with the sole objective of favoring Fininvest, without even recognizing a premium to minorities," it said.

The French company holds 9.99% of the Italian broadcasting company's voting rights after taking into account the transfer of some of its shares to trustee Simon Fiduciara.

Write to Pietro Lombardi at [e-mail]

(END) Dow Jones Newswires

September 04, 2019 04:40 ET (08:40 GMT)

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