A court in Madrid has upheld the suspension of Mediaset’s planned merger of its Italian and Spanish business units.
Mediaset wants to merge the two entities into one, titled MediaForEurope, which will operate from the Netherlands.
According to court documents, a request by Mediaset to lift the precautionary suspension of the project was rejected. A Spanish judge had previously suspended the merger in October of last year, after which Mediaset changed some details of the merger in order to gain approval.
In a statement, Mediaset said it plans to continue with its cross-border growth plan through unspecified “new ways”, and hasn’t ruled out appealing the suspension, reports Reuters.
Last week a court in the Netherlands postponed the company’s plans until 1st September.