Mediaset has filed a complaint with Italy’s market watchdog, accusing hostile shareholder Vivendi of leaking information with the goal of halting a cross-border merger deal.
Mediaset announced in June it would undertake a corporate overhaul under which the company and its Spanish subsidiary would merge into a new Amsterdam-based holding, MediaForEurope.
Mediaset said the new company would have the “scale to compete” with “global players” and will reach more than 100 million homes. It described the move as an important step “towards the development of a fully integrated media company that can become a market leader” in both the linear and non-linear entertainment markets.
Vivendi could stop the plan if it exercises its right of withdrawal. In its statement, Mediaset called on Vivendi to make a public statement on its intentions.