6 AGO 2020

MEDIASET WITHDRAWS THE MERGER PROCESS WITH ITS SPANISH SUBSIDIARY

The company announced it through a statement addressed to the National Securities Market Commission (CNMV), expressing that it considers it "unfeasible for technical reasons."

Share

Mediaset decided to end, at least for now, the attempt to merge with its Spanish subsidiary, after a Madrid court rejected Mediaset España request to lift the precautionary measures agreed by the same judicial body last October, in the framework of the legal dispute that the company has with its partner Vivendi, who opposes the project.

Considered "unfeasible for technical reasons", the Italian parent company sent a statement to the National Securities Market Commission (CNMV) where it reported that it abides by the courts' decision, although it does not share its conclusions. He reiterated that the operation is in accordance with the applicable regulations; however, it clarified that it respects the rights of the shareholders. He further argued that it is aimed solely at looking after the interests of Mediaset and all the shareholders who approve the operation.

"The decision made by the Madrid Court is only the consequence of the instrumental and predetermined opposition of Vivendi, which acts in its own interest, also as a competitor of the Mediaset Group," assured the company, which confirmed the validity of its industrial plan. MFE MediaForEurope, although it has already immediately launched the study of a different execution but with the aim of achieving the same objectives.

The legal battle with the French media conglomerate Vivendi, which controls 28.8% of Mediaset Italia and 1% of Mediaset España, will continue in the future.