Vivendi is reportedly planning to step up its legal fight with Mediaset are deciding not to sell its stake in the company.
The deadline for Vivendi to sell its stake in the company expired over the weekend and, according to Reuters, it is preparing to step up its legal action against the Italian broadcaster’s plan to overhaul its business.
Earlier this month Mediaset won approval from its shareholder to create a pan-European media group as it aims to fend off growing competition from streaming services such as Netflix and Amazon Prime Video.
Vivendi, which opposes the plan, had a deadline of midnight on Saturday to sell its 29 per cent holding back to the Italian group.
Sources familiar with the matter told Reuters that Vivendi plans to fight the corporate revamp in court, filing suits in Spain and the Netherlands, where the restructured company will be based.