Mediaset Rejects Vivendi Request to Vote During Shareholders' Meeting
18 Abril 2019 - 6:38AM
Dow Jones News
By Olivia Bugault
Mediaset SpA (MS.MI) Thursday said its board decided that
Vivendi SA (VIV.FR)--which holds a stake in Mediaset--and its trust
Simon Fiduciaria SpA are not legally entitled to exercise their
voting and other administrative rights during Thursday's
shareholders' meeting.
The Italian media company said the French mass media
conglomerate acquired and holds Mediaset stock in violation of
"obligations made by Vivendi to Mediaset in a contract stipulated
on April 8, 2016." Mediaset's board of directors resolved to oppose
Vivendi's request to exercise its voting rights associated with its
own stake and Simon Fiduciaria's one.
Vivendi holds a 9.61% stake in Mediaset as it transferred a
19.19% stake to Simon Fiduciaria in April last year.
Mediaset also refused to let Simon Fiduciaria take part in the
shareholder meeting.
The company's board decision came as Mediaset has been embroiled
in a legal dispute with Vivendi for years.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
April 18, 2019 05:23 ET (09:23 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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