Vivendi Has Dropped Summary Proceedings Against Mediaset Merger in Amsterdam -Sources

Date : 10/15/2019 @ 9:07AM
Source : Dow Jones News
Stock : Mediaset Spa (MS)
Quote : 2.712  0.0 (0.00%) @ 12:00AM

Vivendi Has Dropped Summary Proceedings Against Mediaset Merger in Amsterdam -Sources

Vivendi (EU:VIV)
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PARIS--Vivendi SA (VIV.FR) has dropped the summary proceedings it had opened in the Netherlands against the merger of Mediaset SpA (MS.MI) and its Spanish subsidiary Mediaset Espana Comunicacion SA (TL5.MC), according to sources familiar with the matter.

Given that a Madrid court ruled last week to suspend the merger of the two broadcasting companies following a legal challenge by Vivendi, the proceeding initiated in Amsterdam wasn't necessary anymore, according to a source.

Vivendi, which holds a stake in both Mediaset and its Spanish subsidiary, had said at the time that it was satisfied with the Spanish court's decision and that legal actions in the Netherlands as well as Italy would continue.

Separate legal action initiated by Vivendi in the Netherlands is still in place, according to another source.

The French media and entertainment group has been embroiled in a dispute with Mediaset, which is controlled by former Italian Prime Minister Silvio Berlusconi's family, since a pay-TV deal between the two companies fell apart in 2016. Vivendi holds a 28.8% stake in Mediaset.

 

Write to Barcelona Editors at barcelonaeditors@dowjones.com

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This story was translated in whole or in part from a French-language version initially published by L'Agefi-Dow Jones.

 

(END) Dow Jones Newswires

October 15, 2019 04:52 ET (08:52 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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