An Italian court ruled in favor of a petition filed by French media giant Vivend...
) reorganization plan, the two companies said on Saturday, although the decision was not enough to scupper the deal.
Vivendi has been a hostile Mediaset shareholder since the tycoons who control them, Vincent Bollore and former Italian Prime Minister Silvio Berlusconi, fell out in 2016 over an aborted pay TV deal. They have been in a legal war ever since. The ruling only applies to the 9.6% stake Vivendi directly holds in Mediaset, as two-thirds of the French group’s 29% total stake is currently held by an arms-length trust called Simon Fiduciaria, which has so far been barred from voting by an Italian court.Mediaset said in a statement on Saturday it was satisfied with the decision of the Milan court.
Vivendi blamed Mediaset for attempting to illegally seize control and suggested further legal action could be taken.
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