BREAKING NEWS

Vivendi drops summary proceedings in Amsterdam against Mediaset European plan - sources

Vivendi drops summary proceedings in Amsterdam against Mediaset European plan - sources
FILE PHOTO: The Vivendi logo is pictured at the main entrance of the entertainment-to-telecoms conglomerate headquarters in Paris, March 10, 2016. REUTERS/Charles Platiau -
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Charles Platiau(Reuters)
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MILAN (Reuters) – France’s Vivendi <VIV.PA> has dropped summary proceedings filed in an Amsterdam court against a Mediaset <MS.MI> plan to merge its Italian and Spanish businesses into a new Dutch holding company, two sources close to the matter said on Monday.

Last week a Spanish court suspended Mediaset’s plan, which Vivendi – the second largest investor in the Italian broadcaster – considers detrimental for minority shareholders.

A court hearing on the case was scheduled in Amsterdam on Wednesday.

(Reporting by Elvira Pollina, writing by Giulio Piovaccari, editing by Chris Reese)

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