The long-running dispute between Mediaset and Vivendi over a pan-European broadcasting platform may finally be coming to an end after Mediaset said it is ready to start talks.
The two companies have been locked in battle for months over the plan to merge Mediaset’s Italian and Spanish business units into MediaForEurope, which would be based in Amsterdam.
Last week, a Spanish court upheld a suspension of the plan, which has led to Mediaset announcing it has dropped the plan, stating the ruling made it impossible to complete the project in the time available.
However, the company said the plan remained valid and it was looking at alternative options.
According to Reuters, Vivendi wrote to Mediaset to say it was ready to support the Italian broadcaster in its cross-border growth strategy, provided it included a governance structure to protect minority shareholders. However, Mediaset’s board has said the offer is not satisfactory.
But it said it was open to starting talks with Vivendi over international growth plans creating value for all the group shareholders, including majority investors.
According to the report, Mediaset’s board has invited Vivendi to submit proposals to boost the business abroad, as part of a wider settlement.