Mediaset’s General Meeting of shareholders approved the company’s change of name to MFE-MediaForEurope NV, along with the introduction of a dual-class share structure and authorization for the issue of new shares. The change of the social denomination is effective immediately.
“We are extremely satisfied with these two important steps: the creation of MFE-MediaForEurope N.V. in the Netherlands and the introduction of a two-tier shareholder structure. These measures and our excellent business results give us the possibility of looking to the future also with a view to international development,” said the company’s CEO, Pier Silvio Berlusconi.
According to the group, the introduction of the new share structure represents a fundamental step to pursue the creation of a pan-European group in the entertainment and content sector as it will provide greater flexibility for financing possible future mergers and acquisitions transactions.
The new share structure will give additional voting rights of the holders of B shares, and will give core shareholders, including Fininveset, the investment vehicle of the Berlusconi family, greater flexibility in pushing new mergers and acquisitions while avoiding dilution of their voting rights. The board also approved authorization for the issue of new ordinary A shares.