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Mediaset intends to ask shareholders to approve Netherlands move

Italian broadcaster is pressing ahead with its plans to move its headquarters to the Netherlands

Mediaset has announced it intends to ask its shareholders to approve its plan to move the company’s headquarters to the Netherlands in a vote on 23rd June.

The broadcaster announced in June 2019 it intended to set-up new pan-European media company MediaForEurope that would operate out of the Netherlands.

Vivendi, Mediaset’s second biggest shareholder, immediately raised concerns about the plan, with the two companies locked in a legal battle ever since.

Mediaset says the move will make it easier for to raise financing and pursue partnerships with other broadcasters.

Last week a court in Italy voided the outcome of a shareholder meeting where Vivendi had been prevented from voting with its full 29 per cent Mediaset stake.

According to Reuters, Mediaset finance chief Marco Giordani told analysts that the relocation plan did not include a special voting system. Under the previous project, an enhanced voting system had been criticised by Vivendi because it further strengthened the Berlusconi family’s grip on the company.