Italy s Mediaset shares rise on prospect of truce with Vivendi marketscreener.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketscreener.com Daily Mail and Mail on Sunday newspapers.
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MILAN, April 26 (Reuters) - Mediaset said on Monday it would ask shareholders to approve moving the Italian broadcaster’s legal headquarters to the Netherlands in a fresh effort to pursue international expansion.
Mediaset was previously forced to shelve plans to set up a Dutch holding company that would make it easier for the group to seek European tie-ups because of opposition from its second-biggest investor, Vivendi, which fought the project in courts across Europe.
In an apparent offer of an olive branch to Vivendi, Mediaset also said it would ask shareholders on May 27 to scrap a loyalty share scheme that Vivendi had challenged in court.
BusinessMediaset aims for European expansion with Vivendi s backing
ReutersElvira Pollina
4 minutes read
A Vivendi sign is seen at the company s headquarters in Paris, France, April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo
Italy s top commercial broadcaster Mediaset (MS.MI) is committed to European expansion to fend off competition and hopes to win the backing of all its investors, including France s Vivendi (VIV.PA), it said on Tuesday.
The group controlled by the family of former Italian Prime Minister Silvio Berlusconi on Monday unveiled fresh plans to move its legal base to the Netherlands, having been forced to shelve a similar project last year after opposition from Vivendi.
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RPT-UPDATE 2-Italy court dismisses Mediaset s damage bid against Vivendi in pay TV case Reuters 2 hrs ago
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MILAN, April 20 (Reuters) - A Milan court on Monday rejected a multibillion-euro damage request by Mediaset in a case stemming from the failed sale of the Italian broadcaster s pay-TV arm to French media giant Vivendi, a court document showed.
The decision represents the first verdict in the long-running dispute pitting former Italian Prime Minister Silvio Berlusconi, whose family controls Mediaset, against French billionaire Vincent Bollore, a leading investor in Vivendi.
Mediaset and Vivendi have been at loggerheads since 2016, when the French group ditched an accord to buy Mediaset s loss- making pay-TV unit and then built a 29% stake in the company, which the Italian group considers hostile and illegitimate.