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Court rejects Vivendi trust move to suspend Mediaset AGM decisions

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Court rejects Vivendi trust move to suspend Mediaset AGM decisions
FILE PHOTO: A logo is seen over the main entrance of the entertainment-to-telecoms conglomerate Vivendi's headquarters in Paris April 8, 2015. REUTERS/Gonzalo Fuentes/File Photo   -   Copyright  Gonzalo Fuentes(Reuters)
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By Francesca Landini

MILAN (Reuters) – Mediaset <MS.MI> said on Tuesday a Milan court had rejected a request to suspend two resolutions passed at its shareholder meeting in June, winning the latest round of a long bout with France’s Vivendi <VIV.PA>.

Mediaset, which is controlled by former prime minister Silvio Berlusconi’s family, is stuck in a legal feud with Vivendi after the French media group pulled the plug on a deal to buy the broadcaster’s pay-TV Premium in 2016.

Vivendi, which declined to comment on the court decision, transferred 19.19 percent of its shareholding in Mediaset to the Simon Fiduciaria trust in April after Italy’s watchdog told it to cut its stake in either Telecom Italia <TLIT.MI> or Mediaset to comply with antitrust regulations.

In June, Mediaset closed the door of its June AGM to the trust, preventing it from voting.

In response, Simon Fiduciaria launched a legal challenge asking that two of the decisions taken at the AGM – one related to the establishment of an incentive and retention plan, and another to stock options – be suspended.

(Additional reporting by Gwenaelle Barzic in Paris; editing by Alexander Smith)

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