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)