Mediaset, Vivendi Fail to Reach Agreement in Conciliation Talks
29 Novembre 2019 - 6:09PM
Dow Jones News
By Giulia Petroni
Mediaset SpA (MS.MI) said Friday that it failed to reach an
agreement with its shareholder Vivendi SA (VIV.FR) to end a
long-running dispute.
"Mediaset has announced that, despite strenuous efforts,
attempts at conciliation promoted by the Court of Milan [...] have
failed," the Italian broadcaster said.
The court in Milan reserved the right to fix a subsequent
hearing, the company said.
Last week, a Milan judge granted Mediaset and Vivendi additional
time to settle their differences after a number of previous
attempts failed.
The two sides have been involved in a series of disputes for
years, the most recent over Mediaset's aim to create a new Dutch
holding company, "Media for Europe," to pursue pan-European ties
and stave off competition in the streaming-services market.
In October, Vivendi requested the Court of Milan issue a
preliminary suspension of Mediaset's plan, arguing the strategy
"disregards basic shareholders' rights" and would only benefit
Mediaset's largest shareholder Fininvest.
As previously announced, Mediaset has called for an
extraordinary shareholders meeting for Jan. 10 to discuss the
matter.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 29, 2019 11:54 ET (16:54 GMT)
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