Mediaset announced its plans to merge its Italian and Spanish units as one company based in the Netherlands. The planned merger of Mediaset’s Italian and Spanish units into one company based in the Netherlands was delayed until September. “Despite this new slowdown, the work of a prejudicially hostile shareholder that has caused damage to all other shareholders and employees of the companies involved, Mediaset is confident of the establishment of MFE-MediaForEurope within the foreseen time and deadline,” the company said.
The decision has been taken by a Dutch court to suspend the merger until 1st September. Vivendi filed a petition in January that was subsequently rejected and then appealed against the Amsterdam court’s decision.
Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Mediaset wants to use the new entity to build alliances with peers in Europe. Vivendi, Mediaset's second largest shareholder, opposes the plan across Europe out of fear that any modifications would tighten Berlusconi's grip over the team.
Vivendi saidthat the merger plan filed in the Netherlands on 5th February contained a new supplement that were not presented to the shareholders of Mediaset or Mediaset España prior to their approval of the creation of the new MediaForEurope holding structure that will house both companies, forcing Mediaset to withdraw its filing for the project. Vivendi has been engaged in a legal campaign on multiple fronts to stop Mediaset from merging the two companies and creating MediaForEurope.