Mediaset Board Lets Vivendi Vote at EGM, Bars Simon Fiduciaria
September 04 2019 - 4:55AM
Dow Jones News
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 pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
September 04, 2019 04:40 ET (08:40 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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