September 4, 2019 / 8:10 AM / 2 months ago

Italy's Mediaset says will not allow Vivendi trust to vote at meeting

MILAN, Sept 4 (Reuters) - Mediaset said on Wednesday it would not allow the trust that holds most of the Vivendi stake in the Italian broadcaster to vote at a key shareholder meeting.

Two-thirds of Vivendi’s 29% stake in Mediaset is held by an arms-length trust which has in the past been barred from voting by an Italian court. That leaves Vivendi with 9.99% direct voting rights.

Mediaset also said that its board would not oppose Vivendi’s request to exercise its voting rights at the meeting which will vote on a plan to reorganise its business as part of a European growth strategy. (Reporting by Stephen Jewkes; editing by Francesca Landini)

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