July 22, 2019 / 4:46 PM / a month ago

Mediaset snubs Vivendi's request for new shareholders' vote

MILAN, July 22 (Reuters) - Mediaset said on Monday it had rejected a request by investor Vivendi to convene a shareholder meeting as the French group seeks to scrap a loyalty share scheme that cements the Berlusconi family’s grip on the Italian broadcaster.

The move marks another twist in an escalating row between Mediaset and hostile investor Vivendi that could derail the broadcaster’s plan to putting the group and its separately-listed Spanish unit under a new Dutch holding company. However, the Italian broadcaster said it had accepted, with reservations, Vivendi’s request to include a stake of 9.98% in the record for Mediaset’s loyalty voting scheme. (Reporting by Elvira Pollina)

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