PARIS--(BUSINESS WIRE)-- Regulatory News:
The Mediaset Extraordinary Shareholders’ Meeting being held today is unlawful because its Board of Directors has prevented Simon Fiduciaria from voting, relying on an interpretation of the Italian media law which is contrary to the EU Treaty.
Mediaset is disregarding the most basic shareholder rights and principles of corporate governance with the sole objective of favoring Fininvest, without even recognizing a premium to minorities.
An increasing number of shareholders and investors are questioning the merits of the proposed transaction and doubt it could create any value.
Through its repeated unlawful decisions, the Mediaset Board of Directors has placed the company in a situation of legal uncertainty.
Vivendi will use any legal recourse in all relevant jurisdictions and countries to challenge the legality of the proposed new structure, both under national and European laws.
Since 2014, Vivendi has been focused on building a world-class content, media and communications group with European roots. In content creation, Vivendi owns powerful, complementary assets in music (Universal Music Group), movies and series (Canal+ Group), publishing (Editis) and mobile games (Gameloft) which are the most popular forms of entertainment content in the world today. In the distribution market, Vivendi has acquired the Dailymotion platform and repositioned it to create a new digital showcase for its content. The Group has also joined forces with several telecom operators and platforms to maximize the reach of its distribution networks. In communications, through Havas. the Group possesses unique creative expertise in promoting free content and producing short formats, which are increasingly viewed on mobile devices. In addition, through Vivendi Village, the Group explores new forms of business in live entertainment, franchises and ticketing that are complementary to its core activities. Vivendi’s various businesses cohesively work together as an integrated industrial group to create greater value. www.vivendi.com