September 30, 2019 / 4:33 PM / 18 days ago

Mediaset investors holding 480,885 shares exercised withdrawal right

MILAN, Sept 30 (Reuters) - Mediaset said on Monday preliminary data showed investors holding 480,885 shares in the Italian broadcaster had decided to exercise withdrawal rights from a corporate reorganisation plan.

This means the group would face an outlay of about 1.33 million euros ($1.45 million) to pay Mediaset shareholders opting to cash out their holdings at the withdrawal price of 2.77 euros per share.

The corporate overhaul is conditional on no more than 180 million euros being spent to mop up the shares of Mediaset and its Spanish subsidiary Mediaset Espana investors who head for the door.

Mediaset will communicate final data on withdrawal rights by October 4, while Mediaset Espana shareholders have until Oct. 10 to exercise the withdrawal option.

$1 = 0.9165 euros Reporting by Elvira Pollina

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