Italy Mediaset appeals verdict that freed Vivendi’s voting rights: sources

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In this news, we discuss the Italy Mediaset appeals verdict that freed Vivendi’s voting rights: sources

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MILAN (Reuters) – Mediaset has filed an appeal against a court ruling that lifted restrictions on French media giant Vivendi’s participation in the Italian channel, two legal sources said on Friday.

Last month, an Italian administrative court lifted regulatory restrictions that capped Vivendi’s stake in Mediaset at 10%, potentially giving the French group voting rights back on its 29% stake.

This could give Vivendi the power to block any extraordinary resolutions at Mediaset shareholder meetings and help it secure representatives on the board of directors of the Italian company, controlled by former Prime Minister Silvio Berlusconi.

The two groups have been locked in a legal battle since 2016 when Vivendi abandoned a deal to buy Mediaset’s pay-TV unit and built a stake that Mediaset deems hostile.

Mediaset declined to comment. Vivendi could not be reached immediately for comment.

Reporting by Elvira Pollina, editing by Valentina Za and Susan Fenton

Original © Thomson Reuters

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