Vivendi has announced plans to appeal a decision by the Milan Court, which rejected the company’s requests to suspend the resolutions adopted by the Mediaset Shareholders’ Meeting.
The statement reiterated Vivendi’s position that Mediaset’s merger plan to create pan-European TV company MediaForEurope (MFE) “harms the interests of minority shareholders.”
Vivendi said the court “limited itself to evaluating the consequences of a suspension of the merger process for both parties and concluded that the prejudice for Vivendi would not be irreparable to the extent that it could claim for damages.
“Vivendi is confident that recent judicial decisions and opinions, including from the Advocate General of the Court of Justice of the European Union (CJEU) in December 2019, will ultimately prove it right,” the company added. “Vivendi will continue to strongly defend its position by all legal means.”
The company warned that the Mediaset Board repeatedly excluded “certain minority shareholders” from voting. It said this interpretation of Italian media law “which has been severely challenged by the Advocate General of the CJEU, will ultimately be rejected in court.”