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Mediaset merger blocked by Spanish court

Vivendi welcomes the ruling

Madrid’s commercial court has suspended Mediaset’s merger with Mediaset España to create a new Europe-wide holding company.

The ruling comes as a result of Vivendi’s attempts to block the merger, upholding the argument that the planned holding company would promote the interests of Berlusconi investment vehicle Fininvest and prejudice those of Vivendi.

A Vivendi spokesperson said: “The judge has acknowledged that the planned merger was imposed in an abusive manner by Mediaset and its controlling shareholder Fininvest to the detriment of all minority shareholders and that it does not respond to a reasonable business need for Mediaset España.”

Mediaset España plans to appeal to the High Court of Madrid.