Vivendi Condemns Mediaset's Decision to Bar Its Voting Rights
18 Abril 2019 - 7:11AM
Dow Jones News
By Olivia Bugault
Vivendi SA (VIV.FR) said Thursday that it condemns the Mediaset
SpA (MS.MI) decision that prevents it from voting during the
Italian media company's shareholders' meeting.
"The decision of the Mediaset board is against all basic
principles of shareholder democracy. It is both unlawful and
against the interests of Mediaset and, in particular, of its
minority shareholders," the French media conglomerate said.
The company said that it could challenge Mediaset's decisions in
court and that it won't take part in the shareholders' meeting
under such circumstances.
Earlier Thursday, Mediaset rejected Vivendi's request to vote
during the shareholders' meeting, deeming that Vivendi violated a
number of obligations.
Vivendi holds a 9.61% stake in Mediaset and transferred a 19.19%
stake to its trust, Simon Fiduciaria SpA, in April last year.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
April 18, 2019 05:56 ET (09:56 GMT)
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